Posted on 28 de março de 2024
Accounting Methods: Accrual, Cash-basis, Modified Cash-basis
If you harvest and sell crops in a period different from when you planted them, you can deduct the cost of producing the crop in the same accounting year you realize and recognize its income. For example, long-term liabilities may be incorrectly classified as short-term, distorting financial ratios like the current ratio. When examining financial […]