Editor’s Note: Under the 2017 tax reform legislation, if the taxpayer uses the accrual method of accounting, the “all events test” with respect to any item of income is not treated as met any later ...

Starting a business can be fun, but choosing an accounting system is boring. As soon as a business begins operations, the owner must decide which accounting method to use to record the company's ...

Private business owners need to understand the difference between cash and accrual accounting methods to accurately interpret their company's financial health. LONG ...

Businesses can choose between two accounting methods: cash and accrual. While sole proprietorships or small mom-and-pop businesses may choose the easier cash accounting method, larger companies use ...