I need help answering my discussion post as I will not have the time to do so this week.
Using the same business you wanted to open in the Module One discussion, consider the impacts of the basis of accounting by answering the following questions: What is the cash basis of accounting? What is the accrual basis of accounting? How will the accounting for your specific business be different if you use the accrual basis (please use specific examples) instead of the cash basis? What will accrual basis statements tell you specifically that cash basis statements will not tell you?
The business that I chose is Real Estate.
I have attached the rubric.