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learn difference between cash basis and accrual basis system

Ragini J.

22 May 0 0

Difference Between Cash Basis and Accrual Basis System

Basis	Cash Basis System	Accrual Basis System
Recording	Recorded on cash receipt/payment	Recorded when transaction occurs
Outstanding Items	Not recorded	Recorded
Profit Calculation	Less accurate	More accurate
Suitable For	Small businesses	Large businesses
Complexity	Simple	Complicated
Financial Position	Not fully correct	More correct and complete

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