What is the easiest way to learn about accrual basis of accounting reporting revenues?

Question

I am having a hard time understanding this. Anyone got an easy to understand website?

Answer 1

I will just give you my two cents worth on the subject at hand. It is as simple as it gets: "match the recognition of revenues with its expenses"

For example, if you sold a piece of land, which has already been paid for. However, you still have to pay the taxes and other costs associated with the sale. Because of some reason, you still have not paid the necessary expenses, but you are supposed to report your quarterly earnings already. Since those associated costs are directly connected to the sale of land, then you should accrue the costs. In short, you match the revenues with the appropriate expenses.