Relatively early in a law firm's existence, a decision is required concerning whether to report financial activities to the Internal Revenue Service on a "cash" or "accrual" accounting basis.

Maryland business owners face many early decisions, but few affect day-to-day operations as much as selecting an accounting method. Cash accounting and accrual accounting each shape how revenue, ...

Private business owners need to understand the difference between cash and accrual accounting methods to accurately interpret their company's financial health. LONG ...

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 ...