Section Rev 1702.02 - Basis of Accounting For purposes of this part, the following definitions shall apply:
(a) "Accrual basis" means the basis of accounting under which: (1) Revenues are recognized in the accounting period in which they are earned and become measurable; and(2) Expenses, rather than expenditures, are recognized in the period incurred, if measurable; and(b) "Modified accrual basis" means the basis of accounting under which: (1) Revenues are recognized in the accounting period in which they become available and measurable; and(2) Expenditures, rather than expenses, are recognized in the accounting period in which the fund liability is incurred, if measurable, except for unmatured interest on general long-term debt.N.H. Admin. Code § Rev 1702.02
#4940, eff 9-25-90; ss by #6335, eff 9-24-96; ss by #8179, eff 9-24-04; ss by #10214, eff 10-24-12
Amended by Volume XLII Number 49, Filed December 8, 2022, Proposed by #13489, Effective 11/15/2022, Expires 11/15/2032 (see Revision Note at chapter heading for Rev 1700)