The International Public Sector Accounting Standards Board has released for comment an exposure draft amending the standards for public sector entities under the cash basis of accounting. Exposure ...

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 ...

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 ...

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

Editor’s Note: The 2017 tax reform legislation provides that the cash method of accounting can be used by taxpayers that satisfy the gross receipts test regardless of whether the purchase, production ...

Another major issue in revenue accounting is when to recognize or record the revenue. A common practice is to record the revenue when we receive payment (cash) from the customer. This is referred to ...

The number of countries reporting their financial positions on an accrual basis is expected to increase from 37 to 98 by 2023, jumping from 25 percent to 65 percent, according to a new report.

Discover how accruals affect company finances, with insights into the accrual accounting method, its applications, and ...

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 ...

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 ...

Cash basis accounting is often better for simpler accounting situations, while accrual basis accounting is usually better for more complex finances. Discover which one is your perfect fit. Explore Get ...