Learn how the previous balance method calculates credit card interest, its implications for cardholders, and why it might not be the best choice for you.

Companies that comply with generally accounting principles, called GAAP, may opt to use the declining balance method to calculate depreciation on a particular asset or group of assets. The declining ...

Managing the financial accounts for one company is tough. If your business invests in another business, keeping the books becomes even more complicated. If, say, you buy one of your suppliers, do you ...

Learn when and how revenue is recognized in accrual accounting, even without cash receipt, following GAAP. Discover the ...

Companies have always faced a major issue of how to reflect changes in accounting methods and error corrections in financial statements. In 2005 FASB issued Statement ...

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 ...

The IRS has issued new guidance on automatic accounting method changes. Revenue Procedure 2009-39 provides certain additions, modifications and clarifications to Revenue Procedures 2008-52 and 97-27 ...

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 ...