If you are an entrepreneur or small business owner, it is a good idea to familiarize yourself with both the cash and accrual accounting methods. So, what’s the difference between cash and accrual ...

Andy Smith is a Certified Financial Planner (CFP®), licensed realtor and educator with over 35 years of diverse financial management experience. He is an expert on personal finance, corporate finance ...

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 ...

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 ...