Discover how modified accrual accounting merges accrual and cash basis methods, its key principles, and why it's preferred by government agencies for accurate financial reporting.

Equity accounting is a method of reporting a company's profits from the operations of an affiliated company that it has an interest in but does not own outright.

Cash- and accrual-based business accounting are two methods for tracking financial performance. Learn which is right for your business.

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 ...

A difficult undertaking is to isolate the exact makeup of accounting research. The methods, goals and focus of accounting research tends to shift over time. Historically, a large part of defining a ...

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 ...

When you open your business, how you choose to account for your finances will be one of the most important decisions that you will make. You will need to choose a sole proprietor accounting method. An ...

In order to obtain IRS approval to change a taxpayer’s current accounting method, the taxpayer must file Form 3115, “Application for a Change in Accounting Method” with the IRS. The instructions to ...

The American Institute of CPAs has sent a letter to the Internal Revenue Service with three recommendations on the accounting method change procedures for business taxpayers. Processing Content A 2015 ...

The new tangible property regulations form a framework of rules for the capitalization of tangible property that affects the treatment of fixed asset additions and disposals, the expensing of ...

Learn about the methods of calculating and tracking inventory that are used in retail accounting.