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What is Cash Basis Accounting?

July 27, 2021 admin Comments Off on What is Cash Basis Accounting?

While every public company uses accrual basis accounting in its financial reporting, it’s not the only bookkeeping standard out there. Cash basis accounting also has practical applications in business. Cash basis accounting is a method where income and expenses are recorded only with the payment of cash to or from the business. Though not the best method for accurate records, it’s a simple practice suitable for small businesses with mainly cash transactions.
Cash basis accounting provides a neat and tidy real-time picture of a business’ cash-on-hand. There are no accounts payable or receivable to worry about, and the books only reflect …read more […]

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Amazon to Accept Crypto as Payment? Not So Quick

July 27, 2021 admin Comments Off on Amazon to Accept Crypto as Payment? Not So Quick

News that Amazon might accept crypto as payment boosted the markets and sent values upwards. The speculation started after it was revealed that the e-commerce giant was looking to hire a digital currency expert. Amazon posted the job listing on its own website.
In the listing, Amazon stated it was looking for someone to develop a digital currency strategy. One that would “work backwards from customer and partner needs.” There was also a special emphasis that the new hire would need to work on new features and “architectural improvements.” So, it’s really not surprising that people jumped to conclusions.

The speculation …read more […]