I do not believe there is any real distinction between 'market' and 'venue'. It is more likely that these are terms established to avoid terms with specific regulatory meanings, such as 'Exchange', 'ATS' (Alternative Trading System), or 'ECN' (Electronic Communicatoins Network).
For example, NASDAQ was an over-the-counter trading platform that later became ...
A company has a single basis of accounting. Think of the basis of accounting as a variable with 1 of a very small number of allowed values. In 99% of cases, that value is one of two possibilities-- cash or accrual.
In the vast majority of cases, companies (particularly public companies) use an accrual basis of accounting. They recognize income and ...
No. It says: The basis of accounting is the time when various financial transactions are recorded.
Then it says the main ones are the cash basis and accrual basis.
The cash basis means you record the transaction when you get/pay the money.
The accrual basis means you record the transaction when you sell or buy the product, even if you haven't got/paid the ...
You are missing the next part of the quote.
Basis of accounting
A basis of accounting is the time various financial transactions are
recorded. The cash basis (EU VAT vocabulary cash accounting) and the
accrual basis are the two primary methods of tracking income and
expenses in accounting.
In the United States, and many other places in the world, people ...