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Thread: accounting

  1. #1
    HOAHONGXULA92 is offline Newbie
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    accounting

    Please tell me the meaning of accrual basis and cash basis.
    Thanks!

  2. #2
    Join Date
    Nov 2008
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    Re: accounting

    accrual basis in accounting is ascribing costs and incomes to the period (ex. month) they apply to.
    and cash basis is ascribing those costs and incomes to the period in which a payment has been made or received so there is cash movement in books.
    they are main principles of accountancy.

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