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 ...

Accruals: expenses incurred but not yet paid or revenues earned but not yet received that affect a company’s bottom line on the income statement. According to the dictionary, “accruals†is a ...

You’re fresh out of college, a new hire at the local CPA firm. It’s your first tax season, and you’re handed a business tax return to prepare. As you peruse the file, you notice that in preparing the ...

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 ...

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, ...