accrual method, Accounting Basics

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Answer the following questions in 200 to 300 words:







· Nonprofit organizations are required to produce financial statements based on the accrual method of accounting. How is this different from the cash basis of accounting? Why is accrual accounting important?







· In an accrual system, does revenue equal cash?







· What is the importance of the statement of cash flow in the financial management of an organization?







Provide at least one resource to support your answer, using APA guidelines.

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