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 ...

Cash basis accounting records when cash actually changes hands in a transaction, providing a real-time view of your financial position that reflects the actual cash flow of a business or individual.

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 ...

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.

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 ...

Globally, governments and the public sector are making slow but steady progress in adopting accrual-based accounting instead of cash-based accounting, according to a new report. Fully 56% of ...

The International Public Sector Accounting Standards Board has proposed an update to its rules for first-time adoption of accrual basis International Public Sector Accounting Standards. Exposure Draft ...

Financial accounting is a specific type of accounting that uses standardized processes and guidelines for businesses to record their financial transactions and prepare financial statements for ...