Cash-basis accounting is a primary method that small businesses use to keep track of their income and expenses. Typically, if a small business has annual sales of less than $5 million, it may choose ...

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James Chen, CMT is an expert trader, investment adviser, and global market strategist. Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and ...

Cash-basis profit and loss equals a company's cash received from sales minus its cash expenses during an accounting period. A company reports its sales, expenses and cash-basis profit or loss on its ...