discussion post

Assignment Details

Businesses elect to use different accounting approaches. Two of the popular approaches are accrual and cash basis accounting methods.
· If you opened a small business, would you use the cash basis or the accrual basis of accounting?
· What factors would you consider in your decision?
Read through your peers’ posts, and when you respond to them, consider the following:
· Provide suggestions on the additional factors that an organization should consider when selecting the cash or accrual method of accounting.
· Discuss why you agree or disagree with the rationale that your peers gave for their selection on the appropriate method.