What is the difference in cash and accrual?
- Watch Accounting WITT’s video titled “Cash and Accrual – Conceptual”:
- Based on the video, explain two (2) advantages and two (2) disadvantages in using both the cash and the accrual basis of accounting.
- Then, determine the one (1) that you believe provides the most useful financial information to users.
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Accounting is explained as the mathematical discipline that is formulated with the intention of collecting, recording, and compiling financial records so as to make them more understandable to the users. Accounting could also be described as the language that is used by accountants in order to communicate to the user of financial information on the…
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