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 ...

There are two main types of business accounting methods: cash and accrual. In general, small-business owners have the option to choose which one to use. Both methods function to keep track of income ...

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 ...

Accruals: expenses incurred but not yet paid or revenues earned but not yet received that affect a company’s bottom line on the income statement. According to the dictionary, “accruals†is a ...

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 ...

Cash basis and accrual or basis accounting are two types of accounting methods used to keep track of income and expenses for budgeting and income tax purposes. The type of accounting method that you ...

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 ...

Opinions expressed by Entrepreneur contributors are their own. Should small businesses use cash or accrual accounting? This question gets asked almost as much as “paper or plastic?” and “debit or ...

Suzanne is a content marketer, writer, and fact-checker. She holds a Bachelor of Science in Finance degree from Bridgewater State University and helps develop content strategies. Crea Taylor / ...

An accrual rate is the interest percentage added to the principal of a financial product between payments. Learn how it applies to bonds, mortgages, and vacation time.