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News Entry# 289219
Dec 21 2016 (01:38)  Railways seeks innovative ideas from public on coach design (
News Entry# 289219     
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The major difference between the two methods of accounting is the timing of recognition of the revenues and expenses. The cash method recognizes these two things as and when the cash is actually received or paid out whereas the accrual method recognizes the revenues and expenses when the transaction takes place irrespective of the money received or paid during that time.
Cash method being the simpler of the two accounting methods is generally used by small and not-for-profit organizations.
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