Explain the difference between the accrual basis of accounting and the cash basis of accounting? What are the major reasons f
For this week's homework, you need to respond to the questions outlined below.
Submit questions in a Word Document. The answers to each question should 100% be in your own words without citing sources. However, a reference page in APA format is required, and should include the sources from where the knowledge was gained to write your answers.
Respond to the following six questions. Each accurate and complete response is worth 10 points.
Please note the tool TurnitIn will be used to check submissions for "Similarity." With the inclusion of the questions, your score should be no more than 25%.
- Explain the difference between the accrual basis of accounting and the cash basis of accounting?
- What are the major reasons for accrual accounting? How are revenues and expenses defined under accrual accounting?
- What is an audit in the context of financial accounting?
- Explain the double-entry accounting system and the duality concept. How are they related?
- The HC method, which uses unadjusted historical costs, does not take into account depreciation expenses, purchasing power, and unrealized gains in replacement value. Despite these weaknesses as a financial reporting method, the HC method is used more frequently for accounting purposes than other methods, such as the HC-GPL, CV, and CV-GPL methods. Why is this so?
- Define and describe the purpose of fund accounting (now called net assets).
Who We Are
We are a professional custom writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework.
Do you handle any type of coursework?
Yes. We have posted over our previous orders to display our experience. Since we have done this question before, we can also do it for you. To make sure we do it perfectly, please fill our Order Form. Filling the order form correctly will assist our team in referencing, specifications and future communication.
Is it hard to Place an Order?
1. Click on the “Place order tab at the top menu or “Order Now” icon at the bottom and a new page will appear with an order form to be filled.
2. Fill in your paper’s requirements in the "PAPER INFORMATION" section and click “PRICE CALCULATION” at the bottom to calculate your order price.
3. Fill in your paper’s academic level, deadline and the required number of pages from the drop-down menus.
4. Click “FINAL STEP” to enter your registration details and get an account with us for record keeping and then, click on “PROCEED TO CHECKOUT” at the bottom of the page.
5. From there, the payment sections will show, follow the guided payment process and your order will be available for our writing team to work on it.
