The figures show the government had a net worth of NZ $ 1 . 8 billion in the six-month period, the first positive net worth since the government began reporting its financial position on an accrual basis in the 1994 budget.
32.
One of their first decisions was to change the way defense purchases are recorded on the yearly budget, recording them at the time they were ordered, on a cash basis, rather than the time they are delivered, on an accrual basis.
33.
In 2001 the IMF s Statistics Department issued a fully revised Government Finance Statistics Manual ( GFSM2001 ), which set the accrual basis of recording transactions, including a government balance sheet, as the standard for all countries for reporting analytical fiscal statistics.
34.
The difference ( between the amount recognized after adjustment for a significant financing component and amount of consideration to be received ) is simply recognized as interest income / expense in terms of the accrual basis of accounting as mentioned in IAS 1.
35.
North American Oil appealed the IRS decision, and the Board of Tax Appeals held that the profits were taxable to the receiver as income in 1916 and made no finding whether the company s accounts were kept on the cash receipts and disbursements basis or on the accrual basis.
36.
An accrual basis taxpayer generally can claim a deduction " in the taxable year in which all the events have occurred that establish the fact of the liability, the amount of the liability can be determined with reasonable accuracy, and economic performance has occurred with respect to the liability ."
37.
As the Court of Appeals noted, " ( i ) t is undisputed, in the case at bar, that Guernsey Memorial Hospital keeps its books on the accrual basis of accounting and in accordance with generally accepted accounting principles . " 996 F . 2d 830, 834 ( CA6 1993 ).
38.
This definition of " accrual basis " simply incorporates the dictionary understanding of the term, thereby distinguishing the method required of cost providers from " cash basis " accounting ( under which revenue is reported only when it is actually received and expenses are reported only when they are actually paid ).
39.
Little effort is made to match revenues to the time period in which they are earned, or to match expenses to the time period in which they are incurred . " Accrual basis accounting " matches revenues to the time period in which they are earned and matches expenses to the time period in which they are incurred.
40.
Compensation of employees is accounted for on an accrual basis; i . e ., it is measured by the value of the remuneration in cash or in kind which an employee " becomes entitled to receive " from an employer in respect of work done, during the relevant accounting period-whether paid in advance, simultaneously, or in arrears of the work itself.
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