Your family would like to start a trading company in your country and hire you as accounting profession to make some important decisions such as using cash or accrual basis accounting, how often will financial statements be prepared, when will the business records it revenues and expenses.

Requirement:

Write a report to address the above considerations and give complete explanation of your reasoning?

Answer rating: 100% (QA)

If you want to start your own business you need to maintain detailed and accurate records of business performance in order for you your investors and your lenders to make informed decisions about the ... View the full answer