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 ...

Accrual accounting is used by businesses that comply with generally accepted accounting principles, or GAAP. With the accrual basis of accounting, business events and transactions are recorded to the ...

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 ...

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 ...

Compliance: Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) require the use of accrual accounting for most companies, especially those that are ...

Most businesses handle their accounting on an accrual basis. What is accrual basis accounting? It’s the practice of recording transactions at the point of origination, even if no money changes hands ...

Maryland business owners face many early decisions, but few affect day-to-day operations as much as selecting an accounting method. Cash accounting and accrual accounting each shape how revenue, ...

James Chen, CMT is an expert trader, investment adviser, and global market strategist. David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, ...

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 ...

Opinions expressed by Entrepreneur contributors are their own. Should small businesses use cash or accrual accounting? This question gets asked almost as much as “paper or plastic?” and “debit or ...