![]() ![]() ![]() Used under the cash basis, modified cash basis, and accrual basis. Used under the modified cash basis and accrual basis.Ĭommon stock. Not used for the cash basis, though some companies prefer to include it. Not used for the cash basis or modified cash basis. Used under the accrual basis.Īccrued expenses. Not used under the cash basis or modified cash basis, since no transaction is considered to have occurred until the company pays its suppliers. Also used under the accrual basis.Īccounts payable. Not used for the cash basis, but is used under the modified cash basis. Used under the accrual basis.įixed assets. Not used for the cash basis or the modified cash basis, since these purchases are charged directly to expense however, many cash basis companies prefer to include it. Not used for the cash basis or modified cash basis, since no transaction is considered to have occurred until the customer pays. Used under the accrual basis.Īccounts receivable. Not used for the cash basis or modified cash basis, since these items are charged to expense. Contains the same information under cash basis, modified cash basis, and accrual basis accounting. The balance sheet contents under the various accounting methodologies are:Ĭash and investments. Under the accrual basis of accounting, you record revenues and expenses as they are earned or incurred, irrespective of changes in cash.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |