If you own your own business or manage one for someone else, you can learn how your business performed in a given period by reviewing your company's financial statements. If you use the accrual method ...

Accrual-based accounting records a sale or purchase as taking place at the time the product is delivered or the service is completed, even if it's not paid for until weeks or months later. In contrast ...

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

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 ...

Accrual accounting is the preferred approach for companies reporting their financial statements under generally accepted accounting practices (GAAP), which are issued through the standards of the ...

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).

Two sets of financial statements for a company that cover the same time period can both be technically correct yet display dramatically different values. The key to effective financial discovery means ...

Cash flow is, understandably, one of a company’s most significant concerns. To stay on top of this vital financial metric, business owners rely on accurate, consistent cash flow statements. These ...