Accrual accounting is the preferred approach for companies reporting their financial statements under generally accepted accounting practices (GAAP), which are issued through the standards of the ...

This recording process is known as accounting, and there are several different ways it can be done. Accrual basis accounting (sometimes called the accrual method of accounting or simply accrual ...

Accrual Accounting Vs. Cash Accounting The main alternative to accrual accounting is the cash basis of accounting. Cash accounting is pretty straightforward—you only record money when it enters ...

This class covers the following concepts and how they fit into the university environment: assets, liabilities, owner’s equity, revenue and expenses accrual vs. cash basis of accounting debits and ...

This is referred to as the cash basis of accounting. However, the university uses the accrual basis of accounting and that means we record the revenue at the point of sale, which may be separate from ...