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Defined by the International Federation of Accountants (IFAC) as “the body of accounting principles that determine when the effects of transactions or events should be recognized for financial reporting purposes. It relates to the timing of the measurements made, regardless of the nature of the measurement.”.

There are many variations of the accounting basis. IFAC identifies two basic reference points (cash and accrual) and two variations (modified cash and modified accrual).

Source Publication:
IMF, 2007, Manual on Fiscal Transparency, IMF, Washington DC, Glossary.

Cross References:
Accounting conventions
Special Data Dissemination Standard (SDDS)

Statistical Theme: Financial statistics

Glossary Output Segments:

Created on Thursday, January 8, 2004

Last updated on Monday, July 23, 2007