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

Businesses can figure their taxes on either an accrual or a cash basis. With a cash basis, you earn taxable income whenever someone pays you. With accrual accounting, you earn income as soon as you ...

A company's accounting profit and taxable income can be different in certain reporting periods because of the differences in financial reporting and tax filing. While accounting profit is computed ...

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 ...

Due to the recent turmoil in the credit markets, creditors and borrowers alike are evaluating the tax treatment of interest accruals related to troubled loans. Generally under Treas. Reg. § 1.446-2(a) ...

Learn what every business owner needs to know about financial accounting, accounting software and financial statements.

The general tax rules for income recognition under an accrual method of accounting were changed in the law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, which added new Secs. 451(b) and (c).

Relatively early in a law firm's existence, a decision is required concerning whether to report financial activities to the Internal Revenue Service on a "cash" or "accrual" accounting basis.

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.

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 ...