In deciding how to keep the books for your business, you have two options: cash-basis accounting or accrual-basis accounting. The difference between them boils down to timing -- specifically, when you ...

Basic accounting principles form guidelines that govern the preparation of financial reports. These guidelines provide a comprehensive framework for classifying, recording, presenting and interpreting ...

Accrual accounting follows the matching principle, which aims to align revenue recognition with the expenses that helped ...

Unlike the balance sheet approach, which emphasizes the collectability of accounts receivable, the income statement approach ...

Knowing GAAP accounting principles will help you understand why your accountant does the things they do. Many, or all, of the products featured on this page are from our advertising partners who ...