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A comment on A tale of two bubbles, the dot-coms and Bitcoin. Parent comment

Re:A tale of two bubbles, the dot-coms and Bitcoin by cbr on Thursday December 07, 2017 @04:31PM (#15874487) 

    this is the currently-accepted way of doing accounting
Cash basis is also accepted, and generally used by very small businesses where accrual accounting is too complicated.
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Re:A tale of two bubbles, the dot-coms and Bitcoin by colorint on Friday December 08, 2017 @06:24PM (#15882993)
Cash basis is accepted for the purposes of taxes, but my understanding is that it's not acceptable for legally-mandated reporting. That is, cash basis is not among the generally accepted accounting principles.
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