Assignment:
Review the accounting methods used by Dr. Lopez as illustrated in Table in this chapter. Contrast the profitability that Dr. Lopez faces by using the cash basis of accounting with the profitability he faces by using the accrual basis of accounting for the month of July. What if Dr. Lopez did not accept third-party insurance and required all patients to pay at the time of service? Would there be any difference between the cash basis and accrual basis of accounting? Why or why not?
Your response should be 200 to 250 words. You will need to cite two reputable sources.