Question

Your friend, Dana, is starting her own photography business. She knows that you are studying accounting, so she has turned to you for help in setting up her accounting records. What method of accounting would you suggest Dana use

Answer 1

Accounting method refers to the rules a company follows in reporting revenues and expenses. The two primary methods are accrual accounting and cash accounting. Cash accounting reports revenue and expenses as they are received and paid; accrual accounting reports them as they are earned and incurred.

Step-by-step explanation: