Problem: As the director of a skilled nursing facility, you are giving the board of directors an update on the financial condition of your organization. You are reviewing the complete set of financial statements with them. One of the board members asks you what the difference is between cash accounting and accrual accounting; another board member asks you what the difference is between patient service revenue and other revenue.
How do you respond to these questions? Please provide examples.
Please answer in English and Please provide references used