Week 2 ACCT

Week 2 ACCT

The major objectives for business entity are to earn profit. Every company keeps their financial records and prepares their financial reports. There are two main accounting methods which are used to keep recording of the business. They are cash basis accounting (cash method) and accrual basis (accrual method).

Compare and Contrast Cash Basis Accounting and Accrual Basis Accounting.

In your discussion define each method.

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