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# Essay questions 1. Explain what is meant by “Accrual Accounting” and “Cash-based Accounting”, giving an example...

## Question

###### Essay questions 1. Explain what is meant by “Accrual Accounting” and “Cash-based Accounting”, giving an example...

essay questions

1. Explain what is meant by “Accrual Accounting” and “Cash-based Accounting”, giving an example of a transaction and its handling under the two different accounting systems. (Chapter 3, Section 5.4.1 and in- class examples).

2. What is “Basic EPS” and how is it calculated? Is this number a good indicator for future company profitability? (Chapter 4, Section 6.2)

3. What is “Common-Size Analysis” of the Income Statement and why do we need it? (Chapter 4, Section 7.1)

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