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 ...

In deciding how to keep the books for your business, you have two options: cash-basis accounting or accrual-basis accounting. The difference between them boils down to timing -- specifically, when you ...

Maryland business owners face many early decisions, but few affect day-to-day operations as much as selecting an accounting method. Cash accounting and accrual accounting each shape how revenue, ...

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 ...

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 ...

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

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.