Accrual Accounting System The accrual accounting system is a standard system used by most businesses and is also the system used in the simulation. In relation to the rules of accrual accounting, cons

Posted: December 30th, 2021

Accrual Accounting System
The accrual accounting system is a standard system used by most businesses and is also the system used in the simulation. In relation to the rules of accrual accounting, consider the following questions:
How does the accrual accounting system impact the financial statements and the standing positions of firms in the simulation such that these may not reflect the true, long-term sustainability of the firms’ strategies?
What is being “unaccounted” for?