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What is the difference between cash-basis accounting and accrual-basis accounting?
Wiki User
∙ 12y ago
Under cash basis accounting all transactions are recorded when cash is actually received or disbursed.
Under accrual basis accounting, all revenues earned during a period are recorded in the period in which they are earned, together with all incurred expensesrelated to those revenues, without regard to whether or when any cash has been received or disbursed.
Wiki User
∙ 12y ago
Wiki User
∙ 9y agoIn Cash bases accounting system all transactions are recorded when actual cash is paid while in Accrual bases of accounting system, transactions are recorded at the time of activity occurred and not when actual cash is paid.
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