Glossary of fiscal terms used in Canada

There are 140 entries in this glossary.
All A B C D E F G H I L N O P Q R S T U W
Term Definition
Accrual method of accounting

With this method, income is reported in the fiscal period it is earned, regardless of when it is received. The expenses are also deducted in the fiscal period they are incurred, whether they are paid or not. This method is generally used by businesses or professionals.

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