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

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

What is the difference between cash-basis accounting and accrual accounting? 150 150 Nyagu

The practice of reporting financial information as a function in today‚Äôs operation of a medical practice is particularly important due to intense demands for fiscal acuity. Therefore, it’s important to understand the difference between cash and accrual accounting.
What is the difference between cash-basis accounting and accrual accounting? Why select one and not the other? How does each method affect the financial statements?
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