Peter Gratton, Ph.D., is a New Orleans-based editor and professor with over 20 years of experience in investing, economics, and public policy. Peter began covering markets at Multex (Reuters) and has ...

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 ...

Taxpayers that fail the gross receipts test are not eligible for the new rules governing inventory accounting. The $25 million threshold will be indexed annually for inflation; the 2026 amount is $32 ...

Revenue recognition is an accounting principle that determines when a company may record earned revenue. It reflects the ...

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 ...

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 ...

Understanding the primary distinction between cash- and accrual-basis accounting is essential for maintaining accurate financial records. The core difference lies in timing — specifically, when your ...

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 ...

• Ease of sharing with accountants. • Integrations. • Customer support. • Pricing transparency. • Free trial period. The best accounting software automates bookkeeping tasks and keeps your finances in ...

The Internal Revenue Service has changed the rules under Sec. 446 of the Internal Revenue Code and Section .446-1(e) of the Income Tax Regulations for obtaining consent to change methods of accounting ...

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 ...