In deciding how to keep the books for your business, you have two options: cash-basis accounting or accrual-basis accounting. The difference between them boils down to timing -- specifically, when you ...

One of the main principles of accounting is known as the matching principle. Matching is the practice of matching your revenue and expenses together. Many companies I’ve worked with don’t put in a lot ...

A business that uses the accrual basis of accounting recognizes revenue and expenses in the accounting period in which they are earned or incurred, regardless of when payment occurs. This differs from ...

Compare how India, Europe, USA, and Australia apply core accounting concepts like conservatism, materiality, and going concern in financial ...