The practice of reporting financial information as a function in today’s operation of a medical

The practice of reporting financial information as a function in today’s operation of a medical

The practice of reporting financial information as a function in today’s operation of a medical practice is particularly important due to intense demands for fiscal acuity. Therefore, it’s important to understand the difference between cash and accrual accounting. What is the difference between cash-basis accounting and accrual accounting? Why select one and not the other? How does each method affect the financial statements?