Discussion:
Imagine that you opened a restaurant in your hometown and you decided to take the knowledge and skills and be your own accountant. Discuss whether you would prefer to keep your accounting records on the cash basis or the accrual basis. As part of the discussion, explain how and why you selected one basis over the other.
Please include the name of the person or question to which you are replying in the subject line. For example, "Tom's response to Susan's comment."