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 ...

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 ...

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 ...

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 ...

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 ...

In the grand scheme of things, William Kross says injuring his back right out of college might have been the best thing to ever happen to his career. An enthusiastic intramural baseball player, Kross, ...

Progress has not been as quick as predicted, but is expected to continue, according to IFAC and the Chartered Institute of Public Finance and Accountancy.

The handling of prepaid expense deferrals and expense accruals will be consistent with the last eight fiscal years. General Accounting processes all prepaid expense deferrals and accruals for all of ...

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 ...