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Topic: FAR Timing Issue (

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ysng
Newbie
Newbie

Joined: 14 Apr 2010
Online Status: Offline
Posts: 12

Posted: 14 Apr 2010 at 22:47 \| IP Logged

Q:
Compared to the accrual basis of accounting, the cash basis of accounting understate income by the net decrease during the accounting period of
A:
accounts receivable - no
accrued expense - yes

I do not underestand the reasoning behind the answer. Would you please explain it to me?

gottobecpa
Major Contributor

Joined: 10 Feb 2010
Location: United States
Online Status: Offline
Posts: 262

Posted: 14 Apr 2010 at 23:00 \| IP Logged

Read this link, it will clear your doubts

http://www.cpanet.com/cpa_forum/forum_posts.asp?TID=25956

__________________
16-April-10-FARE-77!
29-May-10-AUD-81!
7-Aug-10-REG-76!
31-Aug-10-BEC-87 (unbelievable because studied the least for this, 15 days)

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