What is cash basis accounting?

Question added by Mohammed El Tahir Mohammed Yousif , Finance Manager , Factory of Golden Block Company for Cement Products
Date Posted: 2017/09/04

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by Soliman Abd ALmalak Gendy , مدير ادارة مراقبة حسابات , الجهاز المركزى للمحاسبات

Cash basis accounting: -Expenses and revenues are recognized when cash is paid or received.

by Mohammed El Tahir Mohammed Yousif , Finance Manager , Factory of Golden Block Company for Cement Products

Cash basis accounting recognizes revenue and expenses when cash is received or paid

Under cash basis accounting

Revenue recognition: when cash is received

Expense recognition: when cash is paid

What is cash-basis accounting?
Top Answer: An accounting method in which income is recorded when cash is received, and expenses are recorded when ca ... See More

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What is meant by Cash-Basis Accounting ?
Top Answer: An accounting method wherein revenues are recognized when the cash is received and the expenses are recog ... See More

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What does the indirect method of preparing the cash flow statement effectively accomplish?
Top Answer: It takes the accrual basis of accounting and converts it to cash basis See More

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What are the two key methods of accounting?
Top Answer: Two Key methods of Accounting are Accrual Basis & Cash basis See More

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