Accrual accounting is one of the primary accounting methods and is based on the matching principle, which dictates that revenues and their associated expenses be recorded in the same accounting period ...

Learn how currency translation converts foreign subsidiaries' financial results into a parent company's main currency, ...

A company figures its profit or loss over time by subtracting expenses from revenue. For tax purposes, the relevant time period is the tax year or other fiscal year approved by the Internal Revenue ...

Explore the key differences between successful-efforts and full-cost accounting methods for oil and gas companies, including their impact on expenses and financial transparency.

The IRS allows you to calculate your tax bill using one of two tax accounting methods. The more common of the two methods for individual taxpayers is the cash method. However, most businesses prepare ...

In Rev. Proc. 2023-24, the IRS on Thursday provided a comprehensive, updated list of changes in tax accounting methods to which the automatic change procedures in Rev. Proc. 2015-13, as subsequently ...

Business.com aims to help business owners make informed decisions to support and grow their companies. We research and recommend products and services suitable for various business types, investing ...

The Internal Revenue Service issued a new revenue procedure with guidance on how certain businesses can obtain automatic consent to a change in accounting methods. Revenue Procedure 2022-9 modifies ...

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 ...

As your company grows, so do its financial requirements. In my time as COO of a financial services firm, I've seen the mishaps that can happen when a company relies only on traditional accounting ...

Consumer365, a leading independent technology review platform, has recognised Sage as the top accounting software solution for UK businesses in 2025, citing the platform's exceptional accuracy and ...