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Accounting students understand that the accrual method of accounting is superior to the cash method for measuring the income and expenses from an ongoing business
Accounting students understand that the accrual method of accounting is superior to the cash method for measuring the income and expenses from an ongoing business for financial reporting purposes. Thus, CPAs advise their clients to use the accrual method of accounting. Yet CPA firms generally use the cash method to prepare their tax returns. Are the CPAs being hypocritical? at least 250 words
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