Review "Accrual Basis vs. Cash Basis Accounting" https://www.score.org/blog/accrual-basis-vs-cash-basis-accounting (Micah Fraim, Score Blog).
Apply these concepts to your own (real or imagined) business. What type of service or product does your business offer? (You may also use a real life example, such as a business you own now, one you aspire to own, or a family-owned business.) Based on your business's needs, what form of accounting--cash, or accrual--would be best for your company? Why?