Small-business bookkeeping involves setting up a framework, choosing your method and keeping track of details. Many, or all, of the products featured on this page are from our advertising partners who ...

Equity accounting is a method of reporting a company's profits from the operations of an affiliated company that it has an interest in but does not own outright.

Learn how double-entry accounting records transactions twice, ensuring balance and accuracy by showing both a credit and a ...

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 ...

This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. Whether you are an independent contractor or a ...

Cash basis accounting records when cash actually changes hands in a transaction, providing a real-time view of your financial position that reflects the actual cash flow of a business or individual.

The triple-entry accounting system is a concept that emerged with the advent of blockchains. This new approach to accounting has the potential to transform the way transactions are recorded and ...

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 ...