Construction companies and contractors can choose among several accrual accounting methods specialized for their industry. They can also use cash accounting. If they choose accrual accounting, they ...

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of ...

A company figures its profit or loss over time by subtracting expenses from revenue. For tax purposes, the relevant time period is the tax year or other fiscal year approved by the Internal Revenue ...

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 ...

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 ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

In a previous article in this column, we discussed the usual practice by revenue examiners of comparing the information reported by taxpayers in their books/tax returns with other reports of the same ...

The new hedge accounting standard is encouraging more companies to re-evaluate how they are using net investment hedging for risk management, according to a new report from Deloitte. Net investment ...

China Petroleum & Chemical Corporation (HKG: 0386, 'Sinopec') and BASF jointly declared the alignment on the core requirements of carbon footprint accounting methods and reached framework-based mutual ...