Accounting Method

What is Accounting Method ?

Accounting Method refers to the system used to record financial transactions, which can be either the cash-basis or accrual-basis method. The method chosen by a business affects how revenue and expenses are recognized and recorded, and impacts financial statements such as the income statement and balance sheet. The choice of accounting method is an important decision that can affect a business's tax liability, financial performance, and compliance with accounting standards.

Get HighRadius’Autonomous Accounting Software if you are looking to automate your end-to-end accounting processes.