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'''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]].
'''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 are recorded when payment is made. Assets and liabilities are generally not recorded; everything is treated as a revenue or expense item.
Under cash accounting, [[revenue]]s are recorded on the accounting records when payment is received under cash accounting. Similarly, [[expense]]s are recorded when payment is made. Assets and liabilities are generally not recorded; everything is treated as a revenue or expense item.
[[Category:Accounting]]
[[Category:Accounting]]