Blog About Us Store My Library Get Our Newsletter Login

Accrual Basis vs. Cash Basis Accounting

Are there any accountants out there that would like to convince me that accrual accounting is better for a small business than cash accounting?

I'm talking about having a discussion, not an argument. An exchange of ideas and open minds. We can have a civil chat and explain to each other why we think our idea is better.

I believe that cash accounting is the only way to go for small businesses unless accrual accounting is required for a bank loan.

How small a business?

Let's start at the $25,000,000 mark. That the IRS limit established in 2018 before you need to do accrual accounting for tax purposes.

I am guessing that there are a few accountants out there that disagree with this position!

Are you interested in having the conversation?

Please let me know in the comments!

#accounting #wtcfg #bookkeeping

Continue Reading...
Close

50% Complete

Two Step

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.