Editing Book Keeping Task/Accrual
From PCSAR
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- | PCSAR uses the accrual basis of bookkeeping. | + | Consistent with best practices, PCSAR uses the accrual basis of bookkeeping. |
The alternative is the cash basis. | The alternative is the cash basis. | ||
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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]. | 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]. | ||
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