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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › accruals vs cash basis
Dear Sir,
Could you explain what it meant by quarterly in advance in arrears in relation to property income
thanks
If the rental is quarterly in advance for say the quarter to 31 March 2020, then the rental should be paid to the property owner by 1 January 2020, whereas in arrears by 31 March 2020
what is the difference between the accrual basis and the cash basis in property income?
cash basis is a record of actual money in and actual expenses paid during the accounting period of the property
accruals basis is not
Read chapter 3 of the TX manual