Discover when businesses must use accrual accounting and how it differs from cash accounting. Learn why it's essential for ...

Take an in-depth look at the treatment of revenues and expenses within the accrual method of accounting and learn why many ...

Accrual accounting is used by businesses that comply with generally accepted accounting principles, or GAAP. With the accrual basis of accounting, business events and transactions are recorded to 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 ...

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 ...

Opinions expressed by Entrepreneur contributors are their own. Should small businesses use cash or accrual accounting? This question gets asked almost as much as “paper or plastic?” and “debit or ...

Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software.

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

Accruals: expenses incurred but not yet paid or revenues earned but not yet received that affect a company’s bottom line on the income statement. According to the dictionary, “accruals†is 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 ...