May 13th, 2015
Studypool Tutor
Price: $5 USD

Tutor description


Word Count: 201
Showing Page: 1/2
What are the different bases of accounting? When would you use the cash basis? Accrual basis? Tax basis? Which one is better? Why? Under cash basis accounting, both sales and expenses are recorded only when cash is in fact received or expensed. This method is straightforward and does not involve adjustments. For instance, if a purchase is made last year using credit and it is actually paid for this year, the expenses would be recorded for this year - not last year. Accrual basis of accounting is utilized when transactions are recorded in regard to the amounts having become due for payment

Review from student

Studypool Student
" Awesome! Exactly what I wanted. "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1823 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors