Cash vs. Accrual Accounting 101: Why YOU should care

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by a professional from Harvard University - Harvard Business School
in Atlanta, GA, USA

4yrs ago

Cash vs. Accrual Accounting 101: Why YOU should care

If you've ever wanted a crash course on cash vs. accrual accounting and why you should care - check out my new War Stories blog post that addresses how it played a role on a real deal.

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reply by a searcher 4yrs ago
from The University of Texas at Austin in Colorado, USA

Thanks for sharing. I feel I've seen several changes to accounting methods from 18/19 and then COVID numbers tanked. It's as if the business was going to market to be sold, broker/advisor advised them to change to accrual to recognize bookings/contracts as revenue which turned into "-ish" accounting as you describe with the COVID cliff then making 18-24ish even worse.

reply by a professional 4yrs ago
from Harvard University in Atlanta, GA, USA

Good point ^redacted‌. It’s also that bookkeepers in these small businesses are not sophisticated enough to adhere to accrual standards. But they are asked to do it. Hence “accrual-ish”