The IRS allows you to calculate your tax bill using one of two tax accounting methods. The more common of the two methods for individual taxpayers is the cash method. However, most businesses prepare ...

Accounting is the compilation of financial information for various purposes, such as managing a corporate budget, making informed decisions with regard to business operations and predicting future ...

The IRS has issued new guidance on automatic accounting method changes. Revenue Procedure 2009-39 provides certain additions, modifications and clarifications to Revenue Procedures 2008-52 and 97-27 ...

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 ...

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

The American Institute of CPAs has sent a letter to the Internal Revenue Service with three recommendations on the accounting method change procedures for business taxpayers. Processing Content A 2015 ...

Explore the key differences between successful-efforts and full-cost accounting methods for oil and gas companies, including their impact on expenses and financial transparency.

When it comes to income tax, there are different accounting methods that can be used. However, there is also an element of confusion about which system has to be used at what point of time and for the ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

An AICPA tax leader explains the potential ramifications of two recent Supreme Court decisions on tax regulation. Listen to the podcast episode or read the Q&A. The IRS on Tuesday provided a ...

As a new small-business owner you must make a decision between using accrual or cash accounting methods. Regardless of which method you choose, you must use it consistently. The accrual accounting ...