Ask Experts Questions for FREE Help !
Ask
    gjgayle's Avatar
    gjgayle Posts: 1, Reputation: 1
    New Member
     
    #1

    Nov 1, 2010, 08:50 PM
    What is the difference of a cash basis budget to a modified accrual basis budget?
    Government accounting
    mmresd's Avatar
    mmresd Posts: 2,002, Reputation: 553
    Ultra Member
     
    #2

    Nov 2, 2010, 03:51 PM
    Cash Basis Budget records everything when a transaction is incurred. Accrual Basis Budget does the same, but there are some things that are "accrued" at the end of the month, year, accounting or operation period.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Reporting Cash Basis versus Accrual Basis Income [ 3 Answers ]

Please help, I'm confused. Music Company had the following transactions in March: a. Sold instruments to customers for $10,000; received $6,000 in cash and the rest on account. The cost of the instruments was $7,000. b. Purchased $4,000 of new instruments inventory; paid $1,000 in cash and...

M3-2 Reporting Cash Basis versus Accrual Basis Income: LO1, LO2 [ 3 Answers ]

Mostert Music Company had the following transactions in March: 1. Sold instruments to customers for $10,000; received $6,000 in cash and the rest on account. The cost of the instruments was $7,000. 2. Purchased $4,000 of new instruments inventory; paid $1,000 in cash and owed the rest on...

Reporting Cash Basis versus Accrual Basis Income [ 1 Answers ]

Forllowing transactions in March. Do both cash basis and accrual basis income a) Sold instrument to customers for $10,000; received $6000 in cash and the rest on account. The cost of the instrument was $7000 b)Purchased $4000 of new instrument inventory;paid $1000 in cash and owed the rest on...

Reporting Cash Basis versus Accrual Basis Income [ 1 Answers ]

Mostert Music Company had the following transactions in March: a. Sold instruments to customers for $10,000; received $6,000 in cash and the rest on account. The cost of the instruments was $7,000. b. Purchased $4,000 of new instruments inventory; paid $1,000 in cash and owed the rest on...


View more questions Search