Accrual vs. Cash Accounting: When Businesses Must Use Accrual

Discover when businesses must use accrual accounting and how it differs from cash accounting. Learn why it's essential for ...
JD Supra

Rev. Proc. 2021-26 provides accounting method change procedures for CFCs seeking to use the alternative depreciation system

Recently released Revenue Procedure 2021-26 (the Revenue Procedure) provides taxpayers with guidance regarding accounting method changes made on behalf of foreign corporations. The Revenue Procedure: ...
JournalofAccountancy

Alternative methods allowed for identification of digital assets

The IRS provided temporary relief that allows eligible taxpayers to use alternative methods to make adequate identification of digital asset units that are sold, disposed of, or transferred during the ...
Entrepreneur

What Are Cash Basis and Accrual Accounting Methods?

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 ...
Business.com on MSN

Restaurant accounting: How it’s different from other industries & best practices

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