Would-be entrepreneurs and business owners are faced with innumerable decisions when starting a business. One of the most important of these is which basis of accounting to use to record transactions ...

Opinions expressed by Entrepreneur contributors are their own. Should small businesses use cash or accrual accounting? This question gets asked almost as much as “paper or plastic?” and “debit or ...

Businesses can figure their taxes on either an accrual or a cash basis. With a cash basis, you earn taxable income whenever someone pays you. With accrual accounting, you earn income as soon as you ...

In the U.S., there are accounting standards known as Generally Accepted Accounting Principles (GAAP). They are the accounting standards used for all businesses in this country and provide principles ...