The thing is, there is no need for people to be inventing their own accounting standards, particularly in the area of tax accounting. These debates about accrua

The thing is, there is no need for people to be inventing their own accounting standards, particularly in the area of tax accounting. These debates about accrual versus cash based accounting have been hashed out long ago. Nothing material has changed just because there is a new tax initiative proposed. There is such great risk in that to create self-serving definitions that the industry as a whole decided these terms needed standardization and definition. Now we already have these standards, so let's just stick with them and all use the same meaning of "income" rather than switching to something based on personal intuition. If you want to change the tax code, change the tax code, don't try to redefine "income".