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Path: utzoo!linus!philabs!cmcl2!floyd!harpo!eagle!mhuxl!mhuxd!cwc
From: cwc@mhuxd.UUCP
Newsgroups: net.taxes
Subject: re: deferred income
Message-ID: <1192@mhuxd.UUCP>
Date: Thu, 8-Dec-83 10:29:16 EST
Article-I.D.: mhuxd.1192
Posted: Thu Dec  8 10:29:16 1983
Date-Received: Sat, 10-Dec-83 01:30:10 EST
Organization: AT&T Bell Laboratories, Murray Hill
Lines: 9

I believe Bruce Wright has correctly identified accounting method as the
basis for determining when income is received, except that I think (since
I'm not an accountant) that the presentation of a BILL for material or
services rendered is the controlling event under the accrual method.
The fact that many businesses scramble to invoice their customers as their
accounting periods come to a close is evidence of this.  Just as  many
hound suppliers for invoices to increase expenses for the period.

					Chip