Changes

'''Cash accounting''' is a method of accounting which is used in many small businesses.  Companies that are publicly-traded or subject to government regulation, however, cannot use cash accounting; they are required to use [[accrual accounting]].

'''Cash accounting''' is a method of accounting which is used in many small businesses.  Companies that are publicly-traded or subject to government regulation, however, cannot use cash accounting; they are required to use [[Accrual Accounting|accrual accounting]].

Under cash accounting, [[revenue]]s are recorded on the accounting records when payment is received under [[cash accounting]].  Similarly, [[expense]]s and [[liability|liabilities]] are recorded when payment is made.

Under cash accounting, [[revenue]]s are recorded on the accounting records when payment is received under [[cash accounting]].  Similarly, [[expense]]s and [[liability|liabilities]] are recorded when payment is made.