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 ...

It typically includes net income from the income statement and adjustments to modify net income from an accrual accounting basis to a cash accounting basis. Cash availability allows a business the ...

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 ...

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 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 ...

Accrual accounting is usually compared to cash basis of accounting, which records revenue when the goods and services are actually paid for. Learn more about accrual accounting and how it differs ...