ACCRUAL CONCEPT Definition

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ACCRUAL CONCEPT see ACCRUAL BASIS OF ACCOUNTING.

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BUSINESS VALUATION is the act or process of determining the value of a business enterprise or ownership interest therein by determining the price that a hypothetical buyer would pay for a business under a given set of circumstances.

INTERPERIOD EQUITY is a government's obligation to disclose whether current-year revenues were sufficient to pay for current-year benefits, or did current citizens defer payments to future taxpayers, i.e. it refers to whether current-year revenues are sufficient to pay for the services provided that year and whether future taxpayers will be required to assume burdens for services previously provided.

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