Question
Accrual accounting requires revenue to be entered in the accounting records when revenue is earned.This is called the Revenue Recognition Principle. Cash accounting requires revenue
Accrual accounting requires revenue to be entered in the accounting records when revenue is earned.This is called the Revenue Recognition Principle. Cash accounting requires revenue to be entered in the accounting records when cash is received, regardless of when its earned.What are the implications of each of these methods on net income?Method you think is better, why?
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Equity Asset Valuation
Authors: Jerald E. Pinto, Elaine Henry, Thomas R. Robinson, John D. Stowe, Abby Cohen
2nd Edition
470571439, 470571438, 9781118364123 , 978-0470571439
