Definition of "method of accounting" [method of accounting]

A bookkeeper's chronological list of related debits and credits of a business; forms part of a ledger of accounts (noun)

WordNet. Princeton University. 2010.

Use "method of accounting" in a sentence

"For the outside investor, and also for the financial analyst, the problem is that the so-called income-forecast method of accounting used by the industry and now codified in Financial Accounting Standards Board (FASB) Statement of Position (SOP) 00-2 relies to a great extent on a management’s estimates (possibly far into the future) of how much cash income a film or television series might generate."

Words like "method of accounting"

accounting entry accrual basis audit audited account

cash basis control account credit side debit side

entry ledger entry limited review pooling of interest