Cash Basis Vs Accrual Basis of Accounting

Many small businesses use cash basis of accounting to record transactions, especially those who prepare the accounts once a year. Please refer to my post: Preparing Accounts of Small Businesses Once A Year – Tips and Pitfalls To Avoid for further illustr...

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Tagged As: accountancy, accounting, accounting lessons, accounts, accrual basis accounting, bookkeeping, cash basis accounting, interest income, prepayments, purchases, sales of goods, small business, transactions