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Learn what every business owner needs to know about financial accounting, accounting software and financial statements.

When using the cash-basis accounting method, you will record an expense and make an entry into your accounting ledgers when you make an actual cash payment. Similarly, you will recognize income when ...

Most businesses handle their accounting on an accrual basis. What is accrual basis accounting? It’s the practice of recording transactions at the point of origination, even if no money changes hands ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Suzanne is a content marketer, writer, ...

In accrual accounting, revenue is entered when it is earned and expenses are entered when they are incurred. This is done so managers, shareholders and creditors can determine how much a company ...

Globally, governments and the public sector are making slow but steady progress in adopting accrual-based accounting instead of cash-based accounting, according to a new report. Processing Content ...

Net income and free cash flow are related but are not the same measure. Net income represents a company's accounting profit, whereas cash flow presents whether a company's cash balance increased or ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Lea Uradu, J.D., is a Maryland state registered tax preparer, state-certified notary public, ...

This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. Net and gross income are two of the most important ...

The general tax rules for income recognition under an accrual method of accounting were changed in the law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, which added new Secs. 451(b) and (c).