accrual accounting

What are the two types of business accounting?

December 1, 2016
| | | |

There are two accounting standards in the U.S. used for all businesses; cash and accrual accounting.  The difference is when income and expenses are accounted for in a company’s books. The average American engages in cash based accounting on a regular basis, when balancing their checkbooks and paying bills.  Money is accounted for as...

Read More