What is meant by the accruals concept? Why is it important in financial accounting?

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What is meant by the ‘accruals concept’? Why is it important in financial accounting?

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Accounting Understanding And Practice

ISBN: 9780077139131

4th Edition

Authors: Robert Perks

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Question Posted: May 13, 2024 02:02 PM

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What is meant by the accruals concept? Why is it important in financial accounting?

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The accruals concept means that profit is not based on cash flows it is not the difference between c...View the full answer

Accounting Understanding And Practice

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