Commerce Exam  >  Commerce Questions  >  diff between accrual basis and cash basis of ... Start Learning for Free
diff between accrual basis and cash basis of accoynting
?
Verified Answer
diff between accrual basis and cash basis of accoynting Related: 01- ...
The cash basis and accrual basis of accounting are two different methods used to record accounting transactions. The core underlying difference between the two methods is in the timing of transaction recordation. When aggregated over time, the results of the two methods are approximately the same. A brief description of each method follows:

Cash basis. Revenue is recorded when cash is received from customers, and expenses are recorded when cash is paid to suppliers and employees.

Accrual basis. Revenue is recorded when earned and expenses are recorded when consumed.
This question is part of UPSC exam. View all Commerce courses
Explore Courses for Commerce exam

Top Courses for Commerce

diff between accrual basis and cash basis of accoynting Related: 01- Some Basic Accounting Terminologies - Class 11 - Accountancy?
Question Description
diff between accrual basis and cash basis of accoynting Related: 01- Some Basic Accounting Terminologies - Class 11 - Accountancy? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about diff between accrual basis and cash basis of accoynting Related: 01- Some Basic Accounting Terminologies - Class 11 - Accountancy? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for diff between accrual basis and cash basis of accoynting Related: 01- Some Basic Accounting Terminologies - Class 11 - Accountancy?.
Solutions for diff between accrual basis and cash basis of accoynting Related: 01- Some Basic Accounting Terminologies - Class 11 - Accountancy? in English & in Hindi are available as part of our courses for Commerce. Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
Here you can find the meaning of diff between accrual basis and cash basis of accoynting Related: 01- Some Basic Accounting Terminologies - Class 11 - Accountancy? defined & explained in the simplest way possible. Besides giving the explanation of diff between accrual basis and cash basis of accoynting Related: 01- Some Basic Accounting Terminologies - Class 11 - Accountancy?, a detailed solution for diff between accrual basis and cash basis of accoynting Related: 01- Some Basic Accounting Terminologies - Class 11 - Accountancy? has been provided alongside types of diff between accrual basis and cash basis of accoynting Related: 01- Some Basic Accounting Terminologies - Class 11 - Accountancy? theory, EduRev gives you an ample number of questions to practice diff between accrual basis and cash basis of accoynting Related: 01- Some Basic Accounting Terminologies - Class 11 - Accountancy? tests, examples and also practice Commerce tests.
Explore Courses for Commerce exam

Top Courses for Commerce

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev