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English definition of “cash basis accounting”

cash basis accounting

noun [U]
 
 
( also cash accounting, cash basis)
ACCOUNTING a method of keeping accounts in which amounts of money are recorded at the actual time they are spent or received: Businesses would expect to have fewer cashflow problems if they adopt cash basis accounting. →  Compare accrual accounting
(Definition of cash basis accounting from the Cambridge Business English Dictionary © Cambridge University Press)
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