Small businesses make up about 80% of all U.S. business, and while entrepreneurship is a driving force,
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Small businesses make up about 80% of all U.S. business, and while entrepreneurship is a driving force, owners often run without proper subject knowledge in accounting. Some businesses were found to have fraudulently improved reported income by concealing expenses in inconsistent accounting methods by switching between cash and accrual systems.
If you were to have your own business, What would it be?
What methodology would you prefer to run your business under (explain with reasoning)?
With Cash/Accrual each coming with their own pros/cons, what appeals to the selection you made?
Related Book For
Auditing a risk based approach to conducting a quality audit
ISBN: 978-1133939153
9th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
Posted Date: