Free Consultation|USA Only +1 (866)754 4460|Outside USA +1 (516)822 3100 - Website Logo
  You are here : Home  >   Services  >   Accounting & Book keeping  
TESTIMONIALS - Testimonials  

Modified basis of Accounting

0/5 stars (0 vote)
Category : > Accounting & Book keeping
Posted On : Thu Dec 31st,2009

Modified basis accounting is a form of accounting that includes elements of both accrual and cash accounting. It is an accounting method commonly used by government agencies that combines accrual-basis accounting with cash-basis accounting.

Modified basis of accounting can be classified as follow:

Modified Cash basis of Accounting
Modified Accrual basis of Accounting

Modified Cash basis of Accounting

Modified cash basis of accounting recognizes transactions and events which have occurred by year end and are normally expected to result in a cash receipts and disbursements within a specific period after year end.

Modified Accrual basis of Accounting

Under modified accrual basis of accounting revenues are recognized in the period they become available and measurable, and expenditures are recognized in the period the associated liability is incurred. Most government accounting follows this method.
The basis of accounting adapted to government fund accounting where revenues are recognized when received in cash or when resources are considered available.  Expenditures are recognized when the related fund liability is incurred.


Committed to give our users most updated news!
For instant news please subscribe at

Leave Your Comments
Your name :
Email Address : Will not be published
Please enter your email if you want us to send answer to your email. We have a strict policy of not to share your email address with any other party.
Your message :
Insert these letters into the textfield below: (required, case-sensitive): eNbXY
Do you want to Subscribe for
InfoTaxSquare Business News Bulletin?
Comments (0)
Load More
No Comments found, Be the first to write comment - 10 Successful Years
Copyright © 2010, Infotax Square All Rights Reserved. - Allows Payment Processing With Visa, MasterCard, American Express and Discover
Terms and conditions, features, support, pricing and service options subject to change without notice.