Question

write a short note on accrual basis of accounting

Answer 1

Answer:

The accrual basis of accounting is the concept of recording revenues when earned and expenses as incurred. ... This concept differs from the cash basis of accounting, under which revenues are recorded when cash is received, and expenses are recorded when cash is paid.

Explanation:

Plz mark me brilliant

Answer 2

➠ AnSwer :-

• When transactions are recorded in the books of accounts as they occur even if the payment for that particular product or service has not been received or made, it is known as accrual based accounting.
• This method is more appropriate in assessing the health of the organisation in financial terms