Under modified accrual accounting when are expenditures recorded?

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Berneice Ernser asked a question: Under modified accrual accounting when are expenditures recorded?
Asked By: Berneice Ernser
Date created: Tue, May 11, 2021 1:21 PM
Date updated: Wed, Oct 5, 2022 9:21 AM

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What Is Modified Accrual Accounting? 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.

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