A company figures its profit or loss over time by subtracting expenses from revenue. For tax purposes, the relevant time period is the tax year or other fiscal year approved by the Internal Revenue ...

FASB’s efforts to simplify accounting continued Tuesday, when the board issued a standard eliminating the requirement to retroactively adopt the equity method of accounting when an investment ...

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 ...

When compared to cash accounting, the accrual method provides a more accurate picture of the economic condition of a construction project. In the cash method, you book revenue when you receive it and ...

View post: Macy’s is selling a $400 Calvin Klein wool coat for $200 that will 'elevate your style' If you are an entrepreneur or small business owner, it is a good idea to familiarize yourself with ...

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.

Accrual accounting is the GAAP-preferred practice of recording all revenues and expenses when they occur, even if payment has not yet been sent or received. In business, all financial transactions ...

There are two basic methods of accounting that businesses use to track and report revenues: the cash basis and the accrual basis. Under the accrual basis, revenues are recorded on a company's income ...

The first treatise on double-entry bookkeeping came from the mind and pen of Luca Pacioli. If you've ever wondered why there is a system of accounting software named after a Renaissance era ...

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 ...

This is a guest post from Digital Currency Council Member Marty Zigman. Recently, I gave a webcast presentation to AICPA members to help accounting professionals understand Bitcoin and how to treat it ...