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English definition of “accruals basis”

accruals basis

noun [S]     (also accrual basis) ACCOUNTING
the accruals basis (also the accrual(s) method, also the accrual(s) principle) a method used in accounting in which amounts of money are recorded at the time something is bought or sold, although payments may not yet have been made or received: While the full accruals basis is undoubtedly prudent, we believe there is more commercial logic in accounting for such costs on an earnings basis. accrual basis accounting
on an accruals basis using the accruals basis of accounting: The costs are charged on an accruals basis.
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(Definition of accruals basis noun from the Cambridge Business English Dictionary © Cambridge University Press)
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