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Accruals basisThe effects of transactions and other events are recognised when they occur (and not as cash or its equivalent is received or paid) and they are recorded in the accounting records and reported in the [..]
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Accruals basisThe effects of transactions are recognised when they occur rather than when they are received and paid. They are recorded in the accounts and reported in the periods which the occur.
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Accruals basisThis is when you record a cost or income in your accounts when it's incurred, rather than when you've paid or received payment for it.
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