accounting method

accounting method definition - legal

n

The accepted method by which a person or business consistently determines his income and expenses and allocates them to an accounting period in order to determine his taxable income. See accrual method, cash method, and contract.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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