Accounting Method – Basis of Accounting

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This video lesson is part of our broader “Introduction to Accounting” series, and it will focus on the Accounting Method.  It’s also known as Basis of Accounting.  In this tutorial, you’ll get a brief introduction to the concept of accounting method, which determines when to recognize revenue and expenses for your company.  We will discuss the two main accounting methods, which are cash and accrual.  And we’ll demonstrate the effect of each of the two methods on the data reflected on your financial statements, and results of operations for your business.