Cash Versus Accrual Basis of Accounting: An Introduction

by Congressional Research Service

This report introduces two general methods of accounting-the cash basis method and accrual basis method. The choice of accounting method determines the timing of the recognition of revenue and expenses. Under cash basis accounting, revenue and expenses are recorded when cash is actually paid or received. Under accrual basis accounting, revenue is recorded when it is earned and expenses are reported when they are incurred. Understanding the differences...

• Format: Paperback
• Language: English
• ISBN: 1505587859
• ISBN13: 9781505587852
• Release Date: December 2014
• Publisher: Createspace Independent Publishing Platform
• Length: 24 Pages
• Weight: 0.18 lbs.
• Dimensions: 0.1" x 8.5" x 11.0"