Cash- and accrual-based business accounting are two methods for tracking financial performance. Learn which is right for your business.

Learn about the methods of calculating and tracking inventory that are used in retail accounting.

Accounting is a comprehensive system for collecting, recording, classifying, summarizing, interpreting, and communicating financial information. It is often referred to as the language of business as ...

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 ...

Financial accounting is a specific type of accounting that uses standardized processes and guidelines for businesses to record their financial transactions and prepare financial statements for ...

Understanding these concepts can help you make smarter financial decisions in the long run and day to day. Many, or all, of the products featured on this page are from our advertising partners who ...

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 ...

Money rules the world. From Fortune 500 companies to the dollar bills in your wallet, money is what makes the world go round. Although many people lack a basic understanding of money. That’s why we ...

Equity accounting is a method of reporting a company's profits from the operations of an affiliated company that it has an interest in but does not own outright.

Owners and managers of storage companies face numerous challenges when it comes to planning and operating these facilities. One decision that can have far-reaching implications involves the selection ...

The IRS is asking for comments on proposed procedures for requesting consent to make accounting method changes to reflect FASB’s new revenue recognition standards (Notice 2017-17). The proposed ...