In this video, I explain the modified cash basis of accounting. Moreover, I provide sample transactions that can be modified (recorded on the balance sheet rather than on the income statement) and those can should not be.

00:00 Introduction
00:43 Plant, property, and equipment
02:19 Notes receivable
02:44 Investments
03:34 Loans payable
04:24 Accounts payable and accounts receivable
05:23 No professional body for modified cash basis
06:21 Summary - modified cash basis
07:07 Drawback to modified cash basis

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