Your client is a small IT consulting business consisting of a husband and wife as the principals and two employees. From the time the business was established, 1 July 2010, it has been accounting for tax purposes on a cash basis. For the current financial year your client has decided to account on an accruals basis as the size of the business is increasing. As at 30 June it has $40,000, which was paid to it from the previous financial year and this amount was not included in its assessable income for that year. Must it be included in the current financial year? Would your answer be different if your client had deliberately told the customer not to pay its account for $40,000 until after 30 June?