Cash And Accrual Accounting Accounting, Finance, Spss Term Paper (Term Paper Sample)
the task was to analyse Tucson Medical Centre financial records and then give the difference between Cash and accrual accounting methodssource..
Cash and accrual accounting
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Tucson Medical Centre is a health care organization that I am familiar with. Like any organization, Tucson Medical Centre maintains books of accounting to aid the management in making an important decision concerning investment, finance, and operations. Quality healthcare services are largely attributed to the decisions made by the management of healthcare. Therefore, there is a need to have a clear and understandable accounting method that suits the need of a specific healthcare facility.
Cash and accrual accounting are two basic accounting methods that organizations use to record sales and purchases. In a healthcare setting, the difference between cash and accrual accounting differ on the timing of recording revenues earned by the facility and expenses incurred by the facility, (Perks 1993).
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