Assignment Instructions/ Description
Discussion 03.2: Cash-vs-Accrual BasisMust post first.Review “Accrual Basis vs. Cash Basis Accounting” (Micah Fraim, Score Blog).
Apply these concepts to your own (real or imagined) business. What type of service or product does your business offer? (You may also use a real life example, such as a business you own now, one you aspire to own, or a family-owned business.) Based on your business’s needs, what form of accounting--cash, or accrual--would be best for your company? Why?
Please refer to the AC2760 Discussion Guidelines for additional information on how to be successful on discussion board activities in this course.
Discussion RubricDiscussion 03.3: Matching ConceptMust post first.Employees performed services in 2016, but got paid in 2017. Apply the matching concept to this example. In which year would the wage expense be reported on the income statement under [a] the cash basis or [b] the accrual basis? Why?
Please refer to the AC2760 Discussion Guidelines for additional information on how to be successful on discussion board activities in this course.
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