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.

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

The IRS allows you to calculate your tax bill using one of two tax accounting methods. The more common of the two methods for individual taxpayers is the cash method. However, most businesses prepare ...

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.

Accounting methods refer to the basic rules and guidelines under which businesses keep their financial records and prepare their financial reports. There are two main accounting methods used for ...

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 ...

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 ...

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 ...

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 ...

Although small business taxpayers usually prefer to use the cash method of accounting, some, for whom considerations of accelerating deductions weigh paramount, might prefer to use the accrual method ...

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