Small-business owners and their creditors are wise to pay careful attention to the three major financial statements: the balance sheet, income statement and statement of cash flow. Managers have some ...

If FASB follows through with its plan to mandate a direct-method cash flow statement for not-for-profit entities, experts say financial statement preparers would be wise to address implementation ...

Accounting methods refer to the basic rules and guidelines under which businesses keep their financial records and prepare their financial reports. There are two main accounting methods used for ...

Should a small business use a cash or accrual accounting method? A CPA answers with examples. If you are an entrepreneur or small business owner, it is a good idea to familiarize yourself with both ...

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 ...