An ordinary businessman, without experience in Accounting,

An ordinary businessman, without experience in Accounting, may think that his profit is Cash Receipts less Cash Payments for the period, whereas the Accounting Profession worldwide follows the Accrual Accounting Method.1. Briefly describe these two methods for calculating performance of an accounting period.2. Examine the advantages and disadvantages of both approaches.3. The Accrual method, though used very commonly, may allow Accountants to become creative by increasing or decreasing profit of the period to their advantage. Provide two specific examples how accountants can manipulate profit in Accrual Accounting.