Week 3 Discussion
- Watch Accounting WITT’s video titled “Cash and Accrual – Conceptual”:
- Based on the video, explain two (2) advantages and two (2) disadvantages in using both the cash and the accrual basis of accounting.
- Then, determine the one (1) that you believe provides the most useful financial information to users.
- Identify at least two (2) types of businesses that would benefit by preparing financial statements using either the cash or accrual basis of accounting.
- Justify your response.