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 ...

Accounting is conducted under the guidance of rules and regulations created to ensure a common basis of understanding between accountants and the users of financial statements produced through ...

Starting a business can be fun, but choosing an accounting system is boring. As soon as a business begins operations, the owner must decide which accounting method to use to record the company's ...

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 ...

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 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 ...

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 ...

Relatively early in a law firm's existence, a decision is required concerning whether to report financial activities to the Internal Revenue Service on a "cash" or "accrual" accounting basis.

Cash basis accounting records when cash actually changes hands in a transaction, providing a real-time view of your financial position that reflects the actual cash flow of a business or individual.

The following is an excerpt from How to Use Financial Statements, a manual produced by Commercial Carrier University and sponsored by Castrol. CCU is an educational program produced by Commercial ...