The difference between cash and accruals is actually very simple Accruals

The difference between cash and accruals is actually

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FNS40211 Certificate IV in Book-Keeping & FNS40611 Certificate IV in Accounting Version 10 February 2015 Page 8 of 25 / var/filecabinet/temp/converter_assets/f1/0f/f10f9e4769824f499eaee5500faa406f 3626273f.docx
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6.What is the purpose of a chart of accounts? Version 10 February 2015 Page 9 of 25 / var/filecabinet/temp/converter_assets/f1/0f/f10f9e4769824f499eaee5500faa406f 3626273f.docx
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Cash (main checking account) Cash (payroll account) Petty Cash Marketable Securities Accounts Receivable Allowance for Doubtful Accounts (contra account) Prepaid Expenses Inventory Fixed Assets Accumulated Depreciation (contra account) Other Assets Liabilities: Accounts Payable
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