Tag: accrual basis

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Cash basis vs. Accrual basis. Which method is right for you?

As a nonprofit, which method of accounting is best for your organization? The key in differentiating between cash basis vs. accrual basis lies in the timing of when revenue and expenses are recorded in your accounts. Don’t miss: The four types of 990s When using the cash method of accounting (or modified cash method), revenue …

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The differences between GAAP, cash basis and modified cash basis of accounting

Generally Accepted Accounting Principles in the U.S. (GAAP) are just that – generally accepted. However, it’s not the only choice of accounting basis available to nonprofit and government organizations, and many organizations select another basis of accounting. There could be many reasons for presenting a different basis, one being that it may be more in …

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