In accounting, the timing of when revenue and expenses are recognized will significantly effect the company result. Two basis of reporting will differentiate the reporting nature of the financial report. In which case, company need to choose how to record their financial statement. In accounting two basis concept where cash basis and accrual basis accounting. 

This episode look into, what is this two concept at a glance, and how it's differ in recognizing; revenue and expenses.

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Credit for the opening title

Track: Halfway Through — Broke In Summer [Audio Library Release] : 

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Watch: https://youtu.be/aBGk6aJM3IU