Many contractors can build better cash flow using accounting options that until passage of the Tax Cuts and Jobs Act (TCJA) were unavailable to them. Nevertheless, there remains a surprising number of ...

Understanding cash flow statements is important because they measure whether a company generates enough cash to meet its operating expenses.

Expenses are an unavoidable cost of doing -- and staying in -- business. When a business incurs an expense, there are two accounting methods it may use to record the expense to its books -- the cash ...

If you are an entrepreneur or small business owner, it is a good idea to familiarize yourself with both the cash and accrual accounting methods. So, what’s the difference between cash and accrual ...

F or many years, the IRS clashed over the cash method of accounting with small business taxpayers who provided services as the mainstay of their business but who were categorized as inventory ...

Cash basis accounting records when cash actually changes hands in a transaction, providing a real-time view of your financial position that reflects the actual cash flow of a business or individual.

In what may be the final chapter in an ongoing battle over the availability of the cash method of accounting to small business owners, the Internal Revenue Service has now released Rev. Proc. 2002-28.

Recent legislative proposals have accountants stepping up to make clear which accounting method they prefer -- and it's cash, by a long shot. A number of groups testified or submitted statements on ...

Learn the principles of financial accounting, its importance, and how it functions to provide a clear picture of a company's financial health and compliance.

Owners and managers of storage companies face numerous challenges when it comes to planning and operating these facilities. One decision that can have far-reaching implications involves the selection ...

Relatively early in a law firm's existence, a decision is required concerning whether to report financial activities to the Internal Revenue Service on a "cash" or "accrual" accounting basis.

Not all forms of accounting are the same. Some focus on costs, others on audits and some focus on taxes. While having a solid handle on your business’s finances is essential, how you track business ...