Accruals: expenses incurred but not yet paid or revenues earned but not yet received that affect a company’s bottom line on the income statement. According to the dictionary, “accruals†is a ...

You’re fresh out of college, a new hire at the local CPA firm. It’s your first tax season, and you’re handed a business tax return to prepare. As you peruse the file, you notice that in preparing the ...

There are two main types of business accounting methods: cash and accrual. In general, small-business owners have the option to choose which one to use. Both methods function to keep track of income ...

In accounting, the term "accrual" refers to a journal entry where a revenue or expense item is recorded in the absence of an actual cash transaction. Discretionary expenses are non-essential expenses ...

Opinions expressed by Entrepreneur contributors are their own. Should small businesses use cash or accrual accounting? This question gets asked almost as much as “paper or plastic?” and “debit or ...

James Chen, CMT is an expert trader, investment adviser, and global market strategist. Thomas J. Brock is a CFA and CPA with more than 20 years of experience in various areas including investing, ...