Learn the differences between the percentage of completion and completed contract methods. Discover how each impacts revenue ...

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

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 ...

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 ...

The American Institute of CPAs has recommended to the IRS that taxpayers making an accounting method change for mischaracterized research and experimental expenditures under Code Section 174 should ...

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 ...

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

Accrual basis accounting is typically the preferred method, but cash basis accounting may work for very small businesses. Many, or all, of the products featured on this page are from our advertising ...

IRC section 446(e) requires that a taxpayer secure IRS consent to change its method of accounting. Treasury regulations section 1.446-1(e)(2)(i) specifies that a taxpayer do this before computing its ...

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 ...

A difficult undertaking is to isolate the exact makeup of accounting research. The methods, goals and focus of accounting research tends to shift over time. Historically, a large part of defining a ...