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What is cash basis accounting?

What is cash basis accounting?

Accounting Auditing Costing FM Finance
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Question added by Mohammed El Tahir Mohammed Yousif , Finance Manager , Factory of Golden Block Company for Cement Products
Date Posted: 2017/09/04
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Soliman Abd ALmalak Gendy
by Soliman Abd ALmalak Gendy , مدير ادارة مراقبة حسابات , الجهاز المركزى للمحاسبات

Cash basis accounting: -Expenses and revenues are recognized when cash is paid or received.

Mohammed El Tahir Mohammed Yousif
by Mohammed El Tahir Mohammed Yousif , Finance Manager , Factory of Golden Block Company for Cement Products

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

   

Under cash basis accounting

Revenue recognition: when cash is received

Expense recognition: when cash is paid

  

 

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