There are two basic methods of accounting that businesses use to track and report revenues: the cash basis and the accrual basis. Under the accrual basis, revenues are recorded on a company's income ...

Would-be entrepreneurs and business owners are faced with innumerable decisions when starting a business. One of the most important of these is which basis of accounting to use to record transactions ...

Accounting has two methodologies to recognize income and expenses: cash and accrual basis. Each method has its merits, benefits and disadvantages. Depending on which you select, you will get a ...

Accrual accounting is the GAAP-preferred practice of recording all revenues and expenses when they occur, even if payment has not yet been sent or received. In business, all financial transactions ...

The International Public Sector Accounting Standards Board has proposed an update to its rules for first-time adoption of accrual basis International Public Sector Accounting Standards. Exposure Draft ...

If you are an entrepreneur or small business owner, it is a good idea to familiarize yourself with both the cash and accrual accounting methods. So, what’s the difference between cash and accrual ...

You’re fresh out of college, a new hire at the local CPA firm. It’s your first tax season, and you’re handed a business tax return to prepare. As you peruse the file, you notice that in preparing the ...

Most businesses handle their accounting on an accrual basis. What is accrual basis accounting? It’s the practice of recording transactions at the point of origination, even if no money changes hands ...

Accrual accounting is one of the primary accounting methods and is based on the matching principle, which dictates that revenues and their associated expenses be recorded in the same accounting period ...