Book Keeping Task/Accrual
From PCSAR
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In Canada, most businesses use the accrual method, as [https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/sole-proprietorships-partnerships/accounting-methods.html that is a requirement] of the Canada Revenue Agency. | In Canada, most businesses use the accrual method, as [https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/sole-proprietorships-partnerships/accounting-methods.html that is a requirement] of the Canada Revenue Agency. | ||
| + | However the CRA allows Charitable Organizations to use [https://www.canada.ca/en/revenue-agency/services/charities-giving/charities/operating-a-registered-charity/financial-statements.html either the accrual or cash basis]. | ||
Revision as of 03:48, 23 April 2019
Consistent with best practices, PCSAR uses the accrual basis of bookkeeping.
The alternative is the cash basis. For an explanation of the differences, see these articles:
In Canada, most businesses use the accrual method, as that is a requirement of the Canada Revenue Agency. However the CRA allows Charitable Organizations to use either the accrual or cash basis.
