cash accounting

What Are The Required Disclosures In Regard To Revenue Recognition?

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What Are The Required Disclosures In Regard To Revenue Recognition? ASC 606 requires disclosure of the aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied at the end of the reporting period and an explanation of when the entity expects to recognize revenue by either a quantitative basis or a

What Is Cash Or Accrual?

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What Is Cash Or Accrual? The difference between cash and accrual accounting lies in the timing of when sales and purchases are recorded in your accounts. Cash accounting recognizes revenue and expenses only when money changes hands, but accrual accounting recognizes revenue when it’s earned, and expenses when they’re billed (but not paid). What is