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 ...

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 ...

View post: Macy’s is selling a $400 Calvin Klein wool coat for $200 that will 'elevate your style' If you are an entrepreneur or small business owner, it is a good idea to familiarize yourself with ...

Accrual-based accounting records a sale or purchase as taking place at the time the product is delivered or the service is completed, even if it's not paid for until weeks or months later. In contrast ...

Should small businesses use cash or accrual accounting? This question gets asked almost as much as “paper or plastic?” and “debit or credit?” While the IRS requires some companies to use accrual ...

In the U.S., there are accounting standards known as Generally Accepted Accounting Principles (GAAP). They are the accounting standards used for all businesses in this country and provide principles ...

While every public company uses accrual basis accounting in its financial reporting, it’s not the only bookkeeping standard out there. Cash basis accounting also has practical applications in business ...

Every year, for decades, the City of Chicago claimed to balance its budget as required by state law. Yet the City of Chicago still accumulated many billions of dollars of unfunded but real obligations ...

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 ...

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 ...