What is ACCRUAL PRINCIPLE?

A concept that represents the time between sales and purchases as well as collection of payment. It is the actual performance of a business.AKA accural concept. Refer to accounting concepts.

More On This Topic



Link to This Definition
Did you find this definition of ACCRUAL PRINCIPLE helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary