Modified Accrual Accounting
Modified accrual accounting blends elements of cash and accrual methods. Commonly used in government and nonprofit entities, it recognizes revenues when they’re measurable and available, and expenditures when liabilities are incurred. It helps provide a clearer picture of short-term financial health without full adherence to pure accrual principles.
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Merger Accounting
Merger accounting refers to how the books are consolidated when two companies combine. Depending on the type of merger, acquisition,…
Money Measurement Concept
This accounting concept states that only transactions measurable in monetary terms are recorded in the books. Non-quantifiable events like employee…
Managerial Accounting
Managerial accounting involves preparing internal financial reports to support decision-making by managers. Unlike financial accounting, which targets external stakeholders, managerial…
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