Accrual Principle

Business, Legal & Accounting Glossary

Definition: Accrual Principle

Accrual Principle

Full Definition of Accrual Principle

This principle, which governs the accounting practices of most companies, states that revenues and expenses should be recorded when a transaction occurs, rather than when goods are delivered or payments are made. This principle, while more difficult to implement, provides a more accurate reflection of a company’s financial status.

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Modern Language Association (MLA):
Accrual Principle. Payroll & Accounting Heaven Ltd.
December 08, 2021
Chicago Manual of Style (CMS):
Accrual Principle. Payroll & Accounting Heaven Ltd. (accessed: December 08, 2021).
American Psychological Association (APA):
Accrual Principle. Retrieved December 08, 2021
, from website:

Definition Sources

Definitions for Accrual Principle are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th November, 2021 | 0 Views.