Discussion Topic 1 Financial Reporting

After studying the reading material for the week, respond to the following in a minimum of 250 words:

ACCRUAL VS CASH ACCOUNTING

Please watch the following videos and discuss this topic:

Discuss the timing difference on revenue and expense recognition between cash-based and accrual-based accounting by citing a specific transaction as an example. How does this issue impact financial reporting (FASB) and tax reporting (IRS)?

Discuss the role and responsibilities of a CPA. 

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>