Cash-method and accrual-method accounting, also known as cash-basis and accrual-basis accounting, are the two main accounting systems. They differ in the point at which a transaction is recognized and ...

Adjusting entries are a periodic requirement for an accrual-based accounting system. Its advantages are that it keeps the books in order and that it matches revenues and costs to periods in which you ...

The Internal Revenue Service offered a very timely warning to tax professionals and taxpayers who are scrambling to prepay property taxes in 2017: To be deductible, the taxes must not only have been ...