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What are the benefits and disadvantages between the cash and accruals methods?

April 26, 2017accruals Benefits cash disadvantages methods

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What are the benefits and disadvantages between the cash and accruals methods?

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ATO Position The accounting method chosen to be used for the purposes of GST will have a cash-flow impact. The exact impact depends on the circumstances of the entity and depends on the timing and extent of the payments and when the goods and services are invoiced.