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

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

There are two main types of business accounting methods: cash and accrual. In general, small-business owners have the option to choose which one to use. Both methods function to keep track of income ...

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 ...

Many businesses prefer the simplicity of using cash basis accounting. An expense is recorded when cash is paid and income is recorded when cash is received. However, Generally Accepted Accounting ...

Accrual basis accounting is typically the preferred method, but cash basis accounting may work for very small businesses. Many, or all, of the products featured on this page are from our advertising ...

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.

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

The Financial Accounting Standards Board’s Emerging Issues Task Force has proposed an accounting standards update for how certain cash receipts and cash payments would be classified on the statement ...