A professional service firm would benefit from an accrual basis
financial statement presentation as accrual basis financial
statements do a good task of matching revenues with expenses for a
particular time period.
It gives a more clear picture of the actual costs and revenues
associated with the time period that are looked at because with
cash basis it would be skewed by when the cash was received or paid
out.
It depicts a better association of revenues and expenses with
the related accounting period.
The accrual basis of
accounting recognizes all item changes whenever
they occur.
Auditors of a professional audit service firm can only certify
the statements if a corporation uses accrual basis financial
statement presentation.