Sagarsoft Accounting Specialist Interview Questions and Answers

Cash basis records transactions when cash is exchanged, while accrual basis records transactions when they occur.

• Cash basis recognizes revenue and expenses when cash is received or paid.

• Accrual basis recognizes revenue and expenses when they are earned or incurred.

• Accrual basis provides a more accurate picture of a company's financial position.

• Cash basis is simpler and easier to understand for small businesses.

• Example:...read more