Cash basis accounting records when cash actually changes hands in a transaction, providing a real-time view of your financial position that reflects the actual cash flow of a business or individual.

Client accounting services — also referred to as client advisory services, CAS or CAAS — focus on providing advisory accounting rather than the compliance-heavy services that generally characterize ...

Few service offerings can boast the sort of boom that client accounting services have enjoyed in the past five or six years, as technological advances (particularly in the cloud), client needs, and ...

Client advisory services (CAS) is the fastest-growing service area in the profession (see the sidebar, “CAS By the Numbers”). As the area matures, some firms have moved from solely providing financial ...

While every public company uses accrual basis accounting in its financial reporting, it’s not the only bookkeeping standard out there. Cash basis accounting also has practical applications in business ...

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 ...

Many contractors can build better cash flow using accounting options that until passage of the Tax Cuts and Jobs Act (TCJA) were unavailable to them. Nevertheless, there remains a surprising number of ...

Should small businesses use cash or accrual accounting? This question gets asked almost as much as “paper or plastic?” and “debit or credit?” While the IRS requires some companies to use accrual ...

Accounting has always been an obtuse art and in the case of Global Crossing Ltd., a seemingly simple determination in how to measure cash flows can be interpreted in any number of ways. That’s the ...

The chatter in recent years about needing to rewrite the accounting narrative to attract more students does not tell the whole tale. There’s a larger story that faculty can cite to pique the interest ...