Accrual Basis Accounting

recognizes revenues when earned and expenses are matched with the related revenues and/or are reported when the expense occurs, not when the cash is paid deducts expenses when incurred.

Updated on
September 8, 2022
Published on
June 20, 2018
The 7(a) Loan Program, SBA’s most common loan program, includes assistance for each business with unique needs.
SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Assets
The amount of current assets that is left...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Primary Activity
The major business activity of...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Normal Annual Sales
Those sales that would have...
Cash-basis Accounting
records revenue when cash is...
Current Assets
A balance sheet item which equals...
Cash Flow Test
Part of the CET that determines if...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Intermediary Organization
Organizations that play a funda...
Small Business
A business smaller than...
Affiliate
Business concerns are affiliates if one concern...
Applicant Entity
The business entity requesting...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Schedule of Liabilities
A business debt schedule that lists all of the debts...

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