Is accrual accounting the same as cost accounting?

Answer Accrual accounting and cost accounting are different ways of measuring a company's financial performance. Accrual accounting specifically looks at a company's revenues and the expenses that go into... Read More »

Top Q&A For: Is accrual accounting the same as cost accounting

What is accrual accounting?

When starting a business, a choice will need to be made on the accounting method to be used. The choices are accrual or cash-basis. In most cases, the business will want to choose the accrual metho... Read More »

Benefits of Accrual Accounting?

While cash accounting is the simple way to keep track of income and expenses, accrual accounting is a gauge of the status and performance of a company. It has the advantage of being very transparen... Read More »

Explain Accrual Accounting?

Accountants keep books using two methods: cash and accrual. Both methods have advantages and disadvantages, however, accrual is the "official" way of doing accounting in the U.S. It recognizes inc... Read More »

What does the accounting term accrual mean?

The term "accrual" refers to a type of accounting which reports income as earned and expenses as they are incurred. The other type of accounting, cash basis accounting, reports income as it is rece... Read More »