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27 Nov 2019
Under accrual-basis accountingnet income is calculated by matching cash outflows against cash inflows.cash must be received before revenue is recognized.events that change a company's financial statements are recognized in the period they occur rather than in the period in which cash is paid or received.the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles.
Under accrual-basis accountingnet income is calculated by matching cash outflows against cash inflows.cash must be received before revenue is recognized.events that change a company's financial statements are recognized in the period they occur rather than in the period in which cash is paid or received.the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles.
ahti3131Lv3
3 Jul 2023
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Deanna HettingerLv2
28 Feb 2019
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