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Cash Basis

   Also found in: Dictionary/thesaurus, Financial 0.01 sec.

A method of accounting that considers only money actually received as income and only money actually paid out as expense.

For Income Tax purposes, taxable income is computed under cash basis accounting as the difference between income received and expenses paid out within the tax year.

Cash basis accounting is not the same as Accrual Basis accounting.
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One startup decision that seems to cause entrepreneurs unnecessary consternation is selecting the right accounting method -- cash basis or accrual basis The primary purpose of the accounting method you choose is to calculate your business''s taxable income for federal (and state) income tax purposes One startup decision that seems to cause entrepreneurs unnecessary consternation is selecting the right accounting method -- cash basis or accrual basis.
Cash or Accrual Basis of Accounting? Which Should You Select when ... by K. MacKillop / Business community
The basis in those receivables is usually zero, since the corporation is on a cash basis of accounting and has not recognized any income associated with the creation of those receivables.
Salaries a big offset by Navani, Vinay S. / Journal of Accountancy
97 ------------------------------------------------------------------------ Cash Basis ROA (Annualized) -0.
Shinsei Bank Reports Consolidated Results for the Nine Months Ended ... by JCN Newswires
 
 
 
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