Accounting Method

Accounting Method
An accounting method refers to the rules a company follows in reporting revenues and expenses, which are crucial for computing income and determining taxable income.
Cash Basis (Cash Method)
Cash Basis or Cash Method is an accounting method primarily used by individual taxpayers, wherein income and deductions are recognized when money is received or paid.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.