Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Yarilet Perez is an experienced ...

There are two basic methods of accounting that businesses use to track and report revenues: the cash basis and the accrual basis. Under the accrual basis, revenues are recorded on a company's income ...

A business that uses the accrual basis of accounting recognizes revenue and expenses in the accounting period in which they are earned or incurred, regardless of when payment occurs. This differs from ...

Accrual accounting is used by businesses that comply with generally accepted accounting principles, or GAAP. With the accrual basis of accounting, business events and transactions are recorded to the ...

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small ...

Every year, for decades, the City of Chicago claimed to balance its budget as required by state law. Yet the City of Chicago still accumulated many billions of dollars of unfunded but real obligations ...

The number of countries reporting their financial positions on an accrual basis is expected to increase from 37 to 98 by 2023, jumping from 25 percent to 65 percent, according to a new report. The ...

First, let me say that the independent accounting professions promulgating “generally accepted accounting principles” (GAAP) for the United States, Australia, New Zealand, Canada, and the United ...

In recent times, discussions have been rife on the merits of shifting from cash basis to accrual basis of accounting for enhancing fiscal reporting. Accrual accounting requires revenues and ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...