In few words I need a substantive comment on this post:

The best way that I understand the difference between cash and accrual basis is, cash is the method in where an expense and revenue are recorded only when the transaction has been paid for or received. Accrual basis is the method in which expenses and revenue are tracked/ recorded as they occur. To simplify my explanation cash records transactions when complete and accrued basis tracks transactions as they are being initiated and not necessarily completed. The timing aspect of both cash and accrual basis are their biggest difference. I believe accrued basis is more beneficial, because it is more accurate than cash basis, as every transaction is accounted for. With cash not every transaction is accounted for, it is more time-consuming because future transactions are not taken into account, whereas accrued basis does.