CASH BASIS OF ACCOUNTING Definition

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CASH BASIS OF ACCOUNTING is the accounting basis in which revenue and expenses are recorded in the period they are actually received or expended in cash. Use of the cash basis generally is not considered to be in conformity with generally accepted accounting principles (GAAP) and is therefore used only in selected situations, such as for very small businesses and (when permitted) for income tax reporting. See also Accrual Basis.

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COGS (COST OF GOODS) RATIO = COGS / Total Sales.

YEN is the currency of Japan. Its subdivisions are 100 sen and 1000 rin.

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