An organization’s
approach to accounting often depends on the type of business it is and its
objectives, policies, procedures, and industry. For example, maybe you use
inventory tracking and payroll—but maybe you don’t. The way you and your
accountant like to work also influences your organization’s accounting
practices. For instance, you might prefer the simplicity of cash
accounting to
the more intimate pairing of income and expenses that accrual accounting
offers.
