Discover how modified accrual accounting merges accrual and cash basis methods, its key principles, and why it's preferred by government agencies for accurate financial reporting.

All government entities are required to keep precise financial accounting records. As part of the record-keeping process, most government entities adopt the Generally Accepted Accounting Principles.

Lawmakers at every level of government currently have a unique opportunity to end the confusion and distortion surrounding the ways governments calculate their finances and report them on their ...

The Governmental Accounting Standards Board is proposing a set of improvements in how state and local governments report on their financial condition. Processing Content GASB issued the proposals ...

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 ...

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

Small companies can choose from three different options to prepare their company's financial statements. One option is accrual basis accounting, which is based on generally accepted accounting ...

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 ...

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 ...

Accrual accounting is the GAAP-preferred practice of recording all revenues and expenses when they occur, even if payment has not yet been sent or received. In business, all financial transactions ...

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small ...

There are two basic methods of accounting that businesses use to track and report revenues: the cash basis and the accrual basis. Under the accrual basis, revenues are recorded on a company's income ...