Deborah Koff Ross: “Well, every business in this country is required to use the accrual method if the business has inventory, if the…”

“Well, every business in this country is required to use the accrual method if the business has inventory, if the business is a C corporation, or if gross annual sales exceed $5 million. So for any corporation, any business that meets one of these criteria, our government says you must use the accrual method of accounting. Our own government, however, though requiring businesses to use the accrual method of accounting or you go to jail and get in a lot of trouble with the IRS, that is what the government says to businesses, but the government says, well, that makes us look like we are being even more fiscally irresponsible than we want, so we will not use this accrual business. We will go back and trick the taxpayers by using the cash basis of accounting. At this time, I want to recognize a real leader within the Blue Dog Coalition, my friend and colleague from Georgia (Mr. David Scott).”