Question

Why is accrual basis accounting more commonly used by larger organizations than cash basis or modified cash basis method? If you had to counsel a friend who had a small shop and was using cash basis accounting presently, how would you convince her/him to alter her/his accounting methods?

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The accrual basis of accounting records revenues and expenses when they take place and not when cash is actually exchanged (Weil, 2012). Large organizations deal with several clients and they need to offer credit terms to their...

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