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a method of recording income and expenses in which each item is reported as earned or incurred without regard to when actual payments are received or made.
Based on the Random House Dictionary, © Random House, Inc. 2014.
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These should be presented using the economic resources measurement focus and the
The statements are presented using a flow of economic resources measurement focus and the
is used to report the government wide financial information.
Revenues and expenditures of governmental funds are recognized using the modified
Proprietary funds are presented in the financial statements on the
In the government-wide financial statements, a corresponding amount is recorded as revenue using the
of accounting is used by all governmental fund type accounts.
The government-wide and proprietary funds financial statements are reported using the
On a modified
, revenues are recorded in the fiscal year in which the resources are measurable and available.
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