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Explain advantages in using both the cash and accrual basis

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Discussion

Watch Accounting WITT's video titled "Cash and Accrual - Conceptual":

https://www.youtube.com/watch?v=aPwdgUDXkkE&feature=youtu.be

• Based on the video, explain two advantages and two disadvantages in using both the cash and the accrual basis of accounting.

• Then, determine the one that you believe provides the most useful financial information to users.

• Identify at least two types of businesses that would benefit by preparing financial statements using either the cash or accrual basis of accounting.

• Justify your response.

Reference no: EM131476363

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