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Simple English definitions for legal terms

cash-basis accounting method

Read a random definition: misa

A quick definition of cash-basis accounting method:

The cash-basis accounting method is a way of keeping track of money that only considers actual cash received as income and cash paid out as expenses. This is different from the accrual accounting method, which records income and expenses when they are incurred, regardless of when the money actually changes hands. Other accounting methods include cost accounting, fair-value accounting, and percentage-of-completion method.

A more thorough explanation:

Definition: The cash-basis accounting method is a system for determining income and expenses for tax purposes. It considers only cash actually received as income and cash actually paid out as an expense.

Example: If a business sells a product for $100 but the customer has not yet paid, the cash-basis accounting method would not recognize the $100 as income until the customer pays. Similarly, if a business pays for a service in advance but the service has not yet been provided, the cash-basis accounting method would not recognize the payment as an expense until the service is provided.

Explanation: The cash-basis accounting method only recognizes income and expenses when cash is actually received or paid out. This means that revenue and expenses may not be recognized in the same period in which they were earned or incurred. This method is simpler than the accrual accounting method, which records entries of debits and credits when the liability arises, rather than when the income or expense is received or disbursed.

cash bail | cash book

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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