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Acronyms that contain the term cash basis accounting
What does cash basis accounting mean? This page is about the various possible meanings of the acronym, abbreviation, shorthand or slang term: cash basis accounting.
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| Term | Definition | Rating |
|---|---|---|
| OCBOA | Odified Cash Basis Of Accounting |
What does cash basis accounting mean?
- cash basis accounting
- A basis of accounting is the time various financial transactions are recorded. The cash basis (EU VAT vocabulary cash accounting) and the accrual basis are the two primary methods of tracking income and expenses in accounting. Both can be used in a range of situations, from the accounts of a whole country or a large corporation to those of a small business or an individual. In many cases, regulatory bodies require individuals, businesses or corporations to use one method or the other. When this is not the case, the choice of which to use is an important decision, as both methods have advantages and disadvantages.
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"cash basis accounting." Abbreviations.com. STANDS4 LLC, 2024. Web. 28 Apr. 2024. <https://www.abbreviations.com/cash%20basis%20accounting>.
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