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The Influence of Accrual Accounting on Financial Reporting
December 11, 2023
How does accrual accounting impact financial statements?
Accrual accounting impacts financial statements by accurately reflecting a company's financial performance in a given period. It records revenues and expenses when earned or incurred, enabling a more accurate portrayal of profitability, assets, liabilities, and equity in financial statements.
Tags : Accrual Accounting , Financial Reporting , Statement Preparation