Discover how accruals affect company finances, with insights into the accrual accounting method, its applications, and examples illustrating its principles.

Should a small business use a cash or accrual accounting method? A CPA answers with examples. If you are an entrepreneur or small business owner, it is a good idea to familiarize yourself with both ...

Now that the various classifications of revenue have been defined, it is important to identify what is revenue. Identifying what qualifies as revenue is critical not only from an accounting and ...

The accounting cycle tracks a transaction until it’s added to your company’s financial statement. Follow this eight-step ...

Another major issue in revenue accounting is when to recognize or record the revenue. A common practice is to record the revenue when we receive payment (cash) from the customer. This is referred to ...