Learn when and how revenue is recognized in accrual accounting, even without cash receipt, following GAAP. Discover the ...

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 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 ...

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 ...

View post: Amazon is selling a $400 short-throw projector for $190, and it's a show-stopping gift If you are an entrepreneur or small business owner, it is a good idea to familiarize yourself with ...

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 ...

Every year, for decades, the City of Chicago claimed to balance its budget as required by state law. Yet the City of Chicago still accumulated many billions of dollars of unfunded but real obligations ...

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 ...

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 ...