- accounting method
n. The accepted method by which a person or business consistently determines his income and expenses and allocates them to an accounting period in order to determine his taxable income.
Webster's New World Law Dictionary. Susan Ellis Wild. 2000.
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accounting — An act or a system of making up or settling accounts, consisting of a statement of account with debits and credits arising from relationship of parties. State ex rel. King v. Harvey, Miss., 214 So.2d 817, 819. Rendition of an account, either… … Black's law dictionary
accounting system — noun a bookkeeper s chronological list of related debits and credits of a business; forms part of a ledger of accounts • Syn: ↑accounting, ↑method of accounting • Derivationally related forms: ↑account (for: ↑accounting) … Useful english dictionary
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method — meth‧od [ˈmeθəd] noun [countable] a planned way of doing something, especially one that a lot of people use: method of • It is best to consider all methods of figuring your annual income tax before deciding on any one option. method for • A buy… … Financial and business terms
accounting — ac‧coun‧ting [əˈkaʊntɪŋ] noun [uncountable] 1. ACCOUNTING JOBS the usual word for the profession of accountancy in the US 2. ACCOUNTING the work of keeping a company s financial records, recording its income and expenses, and its business deals:… … Financial and business terms
Accounting for leases in the United States — is regulated by the Financial Accounting Standards Board (FASB).Accounting for leases by the lesseeA lease is defined as a contractual agreement between a lessor and lessee that gives the lessee the right to use specific property, either owned by … Wikipedia