In the U$.$S$.$ we prepare published financial statements using United States Generally $$ Accepted $q,$ Accounting Principles.

U$.$S$.$ GAAP requires us to use $q,$ a $($crual accounting rather than

$q,$ accounting.

$$ accounting recognizes revenue when it is both

$$ AND realized OR $.$ rather than when the cash is received.

$$ accounting records expenses when they have been

$$ rather than when the cash is paid.