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 ...

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 ...

The Internal Revenue Service will typically allow you to choose the accounting method you want to use to prepare your company's tax return and supporting documents when you file your business's first ...

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 ...

Take an in-depth look at the treatment of revenues and expenses within the accrual method of accounting and learn why many ...

Private business owners need to understand the difference between cash and accrual accounting methods to accurately interpret their company's financial health. LONG ...

Another major issue in revenue accounting is when to recognize or record the revenue. A common practice is to record the revenue when we receive payment (cash) from the customer. This is referred to ...

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 ...