Cash Basis Accounting
Definition: Recognizes revenue/expenses when cash changes hands
Scope:ModerateDifficulty:Very Easy
Part of: Financial Accounting
Recognizes revenue/expenses when cash changes hands
StandardsIRS small taxpayers, state regs
CertificationsCPA
GeographyCommon for small businesses; not GAAP for public companies
Related Subjects
See Also
- Financial AccountingPart of Financial Accounting
External Links
- Cash method of accounting — Wikipedia