“Accrual basis” means the basis of accounting under which expenditures or expenses are recorded as soon as they result in liabilities for benefits received and revenues are recorded when earned, despite the possibility that the receipt of the revenue or the payment for the expense may take place, in whole or in part, in another accounting period.
NRS 354.479
“Accrual basis” defined
Known as the Local Government Budget and Finance Act
The act spans §§ 354–354 (155 sections).
(Added to NRS by 1967, 940; A 1971, 183; 1981, 1759)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.