accrual basis accounting

Tag: accrual basis accounting

Cash Accounting vs Accrual Accounting

See Also:Accrual Based AccountingGenerally Accepted Accounting Principles (GAAP) There are two different types of accounting that businesses use: cash accounting vs accrual accounting. Most businesses use accrual accounting, but it varies by the type of business. These two methods are both legal and accepted by the Internal Revenue Service. The primary difference between the two is when

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Percentage Completion Method

Percentage Completion Method Example It is important to visually grasp the percentage completion method for full understanding. The following is a percentage of completion method example to help explain how the method works within a company. Bob is a project accountant for Whistle-at-You Construction Co. Because he is the primary project accountant for his company,

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