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2-1 Discussion: Cash vs. Accrual Accounting Research
Using the same business you wanted to open in the Module One discussion, consider the impacts of the basis of accounting by answering the following questions: What is the cash basis of accounting? What is the accrual basis of accounting? How will the accounting for your specific business be different if you use the accrual basis (please use specific examples) instead of the cash basis? What will accrual basis statements tell you specifically that cash basis statements will not tell you?
Accrual vs Cash Accounting Technique Name Institutional Affiliation Accrual vs Cash Accounting Methods Cash and the accrual accounting basis are the basic guidelines and rules that companies follow while keeping and preparing their financial records and reports. The major difference between the two techniques is based on how each method recor