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Explain two advantages of the accrual basis of accounting

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Reference no: EM131574718

Discussion

Watch the video Cash and Accural- Conceptual (Accounting WITT: 4minutes 44 seconds long) on YouTube

• Based on the video, explain two advantages and two disadvantages in using both the cash and the accrual basis of accounting.

• Then, determine the one that you believe provides the most useful financial information to users.

• Identify at least two types of businesses that would benefit by preparing financial statements using either the cash or accrual basis of accounting.

• Justify your response.

Reference no: EM131574718

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