Discussion topic

Financial statements are prepared using which basis of Accounting and why? Explain.

Financial statements are prepared using which basis of Accounting and why? Explain.

by Jannatun Naim Ema 213-15-4374 -
Number of replies: 0

The accrual foundation of accounting, which records assets and liabilities when they are committed to them and revenues and expenses when they are incurred, is typically used to create external financial statements.