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General Accounting Discussions: confused

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    • CommentAuthorabril
    • CommentTimeMay 18th 2007
     
    any help will be appreciated and thank you in advance. im still a student and have no experience in actual accounting practice. i was just wondering, if the principle clearly states that "ACCRUAL" is the accepted standard then why still some companies or businesses use CASH BASIS (except for small time businesses that, i can understand)? and why does the Internal Revenue allows it? what pisses me is that, if accrual is the standard then why the hell woudnt all company start at accrual basis?

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