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 ...

Alongside accounting basics, understanding the different financial forecasting models and how to implement the model that’s right for your startup’s business plan is absolutely essential. Neither is ...

Whether you do it yourself or rely on accounting software, finance tracking is essential for small business owners.

Full cost (FC) accounting allows companies to capitalize all operating expenses related to locating new oil and gas reserves, regardless of the outcome.

Future income taxes are upcoming tax costs or savings due to discrepancies between financial statements and tax returns.

While large corporations and publicly traded companies must follow the financial accounting, small businesses have the choice of using either the financial accounting method or the tax accounting ...

Taxes become deferred when a company's financial accounting methods are different than the acceptable tax accounting methods. This creates a discrepancy between the general ledger and the amounts ...

On May 10, 2018, the Internal Revenue Service (IRS) issued Rev. Proc. 2018-29, 2018-21 I.R.B. 1, which provides automatic accounting method change procedures for taxpayers seeking to align methods of ...

Tax accounting is a critical field that focuses on preparing and analyzing tax payments and returns. It differs from other accounting fields in that it is guided by specific tax-related provisions set ...

Restaurant accounting has specific needs and features. Here's a look at restaurant accounting methods and expenses, how tips factor in, and more.