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 ...

Generally, the inclusion of gross income (the first step in the computation of taxable income) must be determined pursuant to the taxpayer’s regular method of accounting. 1 The two commonly accepted ...

Find out what to include in a cash flow statement, as well as its limitations and how cash flow is calculated.

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 ...