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Accrual Accounting vs Cash Accounting

/ Owner - October 2, 2013

As HOA accounting specialists, we are often asked about the differences in cash and accrual accounting systems. If you’re not familiar with accounting methods, this topic is a great place to start learning. Currently, both cash and accrual accounting methods are widely used by community associations. In some states, however, corporations (including community associations) are required by law to utilize an accrual accounting system. The basic differences between cash and accrual accounting methods can be explained in the following manner:     Read more…….

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