Discover when businesses must use accrual accounting and how it differs from cash accounting. Learn why it's essential for ...

The district court recently ruled that when determining a business’s correct reporting method to the Israel Tax Authority (ITA)—on an accrual or a cash basis—it is insufficient to examine the ...

Learn how to tell if your business could be facing a cash crunch ...

F or many years, the IRS clashed over the cash method of accounting with small business taxpayers who provided services as the mainstay of their business but who were categorized as inventory ...

Editor’s Note: The 2017 tax reform legislation provides that the cash method of accounting can be used by taxpayers that satisfy the gross receipts test regardless of whether the purchase, production ...

Even before COVID-19, there were questions about whether we were moving toward a cashless society. For example, a 2018 Federal Reserve survey found that debit card usage had surpassed cash as the ...

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 ...