Cash Versus Accrual Accounting
Author: Robert K Minniti
| CPE Credit: |
2 hours for CPAs |
This course is designed to introduce participants to the basic concepts of cash versus accrual accounting. We will review the two different accounting methods and consider the different accounting principles that need to be applied. Examples of transactions will be discussed.
Publication Date: January 2024
Topics Covered
- Accounting Engagements
- Financial Statements
- Cash v Accrual
- Recording Revenue & Expenses
- Revenue vs Gains
Learning Objectives
- Distinguish between accrual-basis accounting and cash-basis accounting
- Identify the revenue recognition principle
- Identify the matching principle
- Identify businesses that can use cash basis accounting
- Identify what is not a component of the COSO Framework for Internal Control
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
None
Advance Preparation
None
