RECORDING PRINCIPLE Definition

Bookmark and Share

RECORDING PRINCIPLE of Accrual Basis of accounting is the recording of data based upon the period in which they are earned or incurred regardless of whether cash is received or disbursed in that period. The recording principle of 'Cash Basis' is the recording of data based on a cash transaction occurrence between two parties (an actual event).

Learn new Accounting Terms

WITHDRAWAL is a. the act of taking out money or other capital from a controlled account; or, b. a retraction of a previously held position.

FRCN see FLOATING RATE CONVERTIBLE NOTE.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.