“Modified accrual basis” means the basis of accounting under which expenditures other than accrued interest on general long-term debt are recorded at the time liabilities are incurred and revenues are recorded when they become measurable and available to finance expenditures of the fiscal period.
NRS 354.550
“Modified accrual basis” defined
Known as the Local Government Budget and Finance Act
The act spans §§ 354–354 (155 sections).
(Added to NRS by 1965, 729; A 1971, 183; 1981, 1763)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.