How to Choose: Cash Basis vs. Accrual Basis Accounting

Today we’re exploring the choice between cash basis and accrual basis accounting. We’ll talk about the differences between the two methods, how you choose between the two, and what the legal requirements are for each method. This is a decision that can significantly impact your financial reporting and tax obligations, so it’s important to understand each method, to make sure you are making the best choice for your business.

YouTube: https://youtu.be/hdCJyxbFuBU