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Investments glossary

Modified Accrual Accounting


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Quotes of the day:

The GOLD in Golden years was identified by the sight impaired. It is actually Rust!!

— Jenny Flowers Strother

Modified accrual accounting is an alternative bookkeeping method that combines accrual basis accounting with cash basis accounting. It recognizes revenues when they become available and measurable and, with a few exceptions, records expenditures when liabilities are incurred. Modified accrual accounting is commonly used by government agencies.


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