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What is the difference between the cash basis and the accrual basis of accounting?

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Question added by Vishnu Karunakaran Nair , Assistant Manager , EXL Service Holdings Inc
Date Posted: 2018/12/19
humayun mansoor
by humayun mansoor , Associate Consultant , Brien Holden Vision Institute Foundation

The cash basis and accrual basis of accounting are two different methods used to record accounting transactions. The core underlying difference between the two methods is in the timing of transaction recordation. ... Accrual basis. Revenue is recorded when earned and expenses are recorded when consumed.

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