Accrual vs. Cash Accounting: Why Does It Matter?
Build to Enough
English - September 16, 2020 04:05 - 6 minutes - 5.57 MB - ★★★★★ - 39 ratingsEntrepreneurship Business entrepreneur small business accounting taxes women Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
To make the best strategic decision for your accounting needs, you need to understand the differences between accrual and cash accounting and how your choice may affect how you file your taxes. While the biggest difference may be easy to understand — deciding when to recognize income and expenses — there are other nuances that need a bit more explaining.
So, in this episode, we discuss:
• The difference between cash accounting and accrual accounting.
• How each type of accounting recognizes revenue.
• Why choosing between the types of accounting matters to your business.
• Our preferred accounting strategy for your business.
For more information about your specific accounting needs, visit our blog at www.littlefishaccounting.com/blog.
We love hearing from our listeners! Send us an email at [email protected] or visit us on Instagram to send us your feedback on our content.
To learn more about us, visit www.littlefishaccounting.com, find us on Instagram (@littlefishaccounting), on Facebook (Little Fish Acctg), or email us at [email protected].