Description
Please note: This course will expire on Wednesday, April 30, 2025 at 11:59 pm ET. Please complete the course AND submit credit before the deadline.
For licensing purposes, all CPE applies to the calendar year in which a course was taken and completed.
Save a copy of your Certificate of Completion for your records. Once submitted, your CPE hours will also reflect in your official CPE transcript.
For licensing purposes, all CPE applies to the calendar year in which a course was taken and completed.
Save a copy of your Certificate of Completion for your records. Once submitted, your CPE hours will also reflect in your official CPE transcript.
There are generally two different ways to keep the books—cash and accrual basis. The method of accounting you choose is important because it dictates when you show income and recognize expenses. So which one is best for you and your business? That’s exactly what this course is all about! In this session, we will discuss the key differences between cash and accrual accounting. We will talk about why the cash basis is normally easier but may be misleading. We will also discuss what you typically see on most business tax returns—and why your method of accounting choice could make a big difference in your tax liability!
Event Level: Basic
Who Should Attend: Small business owners who want to better understand financial and accounting records, as well as bookkeepers who are just getting started
Required Knowledge: None
Advanced Preparation: None
Vendor: Peters Professional Education
Speaker: Peters, David
Objective
* Identify when a transaction should be recorded on the accounting records under the cash method * Recognize when income is recognized and an expense must be accrued on the accounting records under the accrual method * Identify what account should not appear on the financial records if the accrual method is being used
Credit Types
- Taxes: 1
Event Speaker(s)
Event Level:Basic
Event Code:OD005724
Event Vendor:Peters Professional Education
Fields of Study:Taxes
Tags:New Course, 1 hour
Other fields:
Registration Fees
| Registration | Type | Price |
|---|---|---|
| On Demand (1 hour) | Members | $60.00 |
| On Demand (1 hour) | Non Members | $175.00 |
The North Carolina Association of Certified Public Accountants is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.For information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call 800-469-1352.