Which method is right for your company?
There are four different types of accounting methods. Accrual basis is the most time complex to apply. Cash basis is the easiest to use on a day-to-day basis. Modified cash basis is a compromise between the cash basis and accrual basis methods. Income tax basis is utilized for tax reporting purposes. Watch this video for examples of these different types of accounting methods.
John D. O'Grady
- Manager in the Forensic, Litigation and Valuation Services Group at EisnerAmper LLP
- Specializes in fraud and forensic accounting, business valuations, commercial damages assessments, and family and civil court matters
- Has performed valuation and other services for a broad range of industries, he has particular expertise in the professional services, manufacturing, retail, not-for-profit, health care, and real estate sectors
- Member of the Association of Certified Fraud Examiners (ACFE); a member of the National Association of Certified Valuation Analysts (NACVA), where he previously served as treasurer of the New Jersey chapter; and an associate member of the American Institute of Certified Public Accountants (AICPA)
- M.A. degree in accounting, St. Peter’s University; B.A. degree in accounting, The College of New Jersey
- Can be contacted at 732-243-7416
- Senior in the Forensic, Litigation and Valuation Services Group at EisnerAmper LLP
- Specializes in fraud and forensic accounting, business valuations, commercial damages assessments, and complex data-intensive analyses
- Member of the American Institute of Certified Public Accountants (AICPA); member of the Pennsylvania Institute of Certified Public Accountants (PICPA); member of the Association of Certified Fraud Examiners (ACFE)
- B.S. degree in finance from Drexel University; M.B.A. from Drexel University
- Can be contacted at 215-881-8313
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