• Discuss the fundamental differences between accruals and payables. In the course of your Discussion, please include the types of expenses that might be categorized as either an accrual or a payable.
• Given the possible differences in accruals and payables, discuss potential implications that may arise in the financial presentation of a company. Is one method preferable or more accurate than the other?
• Are accruals and/or payables subject to adjustments and, if so, when should these adjustments happen?
• What ethical considerations surround the issue of accrual calculations and the impact they may have on the financial presentation of a company?