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Let's start the week by exploring the accrual basis of accounting. Why do accountants use this...

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Accounting

Let's start the week by exploring the accrual basis ofaccounting. Why do accountants use this instead of the cash basisof accounting? What are some of the benefits of using accrualaccounting?

Please use a different answer than whats on the Chegg database,thank you!

Answer & Explanation Solved by verified expert
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Accrual basis of accounting is mandatory under IFRS Accrual basis of accounting provides a clear picture in relation to profit earned asset and liabilities for a given period when compared with cash basis of    See Answer
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