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 ...
Learn the differences between the percentage of completion and completed contract methods. Discover how each impacts revenue ...
Discover the hidden details in financial footnotes essential for interpreting income statements, balance sheets, and cash ...
The two types -- or methods -- of financial accounting are cash and accrual. Although they're distinct, both methods rely on the same conceptual framework of double-entry accounting to record, analyze ...
What Are Generally Accepted Accounting Principles (GAAP)? Your email has been sent Understanding GAAP is essential for anyone involved in finance or accounting. Learn the key principles and their ...
Understanding these concepts can help you make smarter financial decisions in the long run and day to day. Many, or all, of the products featured on this page are from our advertising partners who ...
Accrual basis accounting is typically the preferred method, but cash basis accounting may work for very small businesses. Many, or all, of the products featured on this page are from our advertising ...
The Financial Accounting Standards Board (FASB) continues to issue pronouncements that are intended to improve investors’ and lenders’ ability to value equity and debt securities. Numerous statements, ...
Positive accounting theory explains real-world accounting choices influenced by management's financial goals. It generates hypotheses like managers aligning accounting methods to secure bonuses or ...
Generally accepted accounting principles, known as GAAP, are a standard set of guidelines followed by US accountants and corporations. Since publicly traded companies are required to report GAAP ...
The law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, which generally took effect in 2018, provides welcome simplifications for small business taxpayers. This article highlights some of ...
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