Discover what accounting changes are, how they affect financial statements, and why full disclosure is essential for ...

Discover the hidden details in financial footnotes essential for interpreting income statements, balance sheets, and cash ...

Accountants play an important role within small businesses by handling the company's financial records. Managers, creditors and investors depend on accurate accounting information to make good ...

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 demand for high-quality accountants is surging, but in today’s hiring environment, the supply is constrained. That’s led to struggles in many companies’ accounting departments. “They’re getting ...

New rules regarding the capitalization and deduction of expenditures related to tangible property were issued by the Treasury Department in proposed and temporary form on December 23, 2011. All ...

Not unlike the last minute procedural guidance released at the end of last year addressing Section 174, on December 22, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service ...

Businesses that sell goods need to implement effective inventory control to keep track of assets. Businesses use two primary methods to calculate the ending inventory value: the gross profit or the ...

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

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of inventory accounting like ...

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 ...