This term is part of our Unit 4: Tax Accounting vs GAAP vocabulary list. Please note that pronunciations can vary slightly even in the same dialect.
USA
UK
USA
UK
the method, of accounting, in which income and expenditure, are recorded at the date they are earned
USA
UK
"From the accounting point of view, it doesn't matter when you actually receive the payment as I am using accrual basis accounting so I have already accounted for the invoice."