Method Transforms Service Contract/Extended Warranty Accounting for $250 Billion+ Global Industry; Projected To Unlock ...

Full cost (FC) accounting allows companies to capitalize all operating expenses related to locating new oil and gas reserves, regardless of the outcome.

Whether you do it yourself or rely on accounting software, finance tracking is essential for small business owners.

The IRS allows you to calculate your tax bill using one of two tax accounting methods. The more common of the two methods for individual taxpayers is the cash method. However, most businesses prepare ...

The push-down method of accounting is a way for a company to account for the controlling purchase of a subsidiary. When a company purchases another, the question arises as to how to value the ...

Restaurant accounting has specific needs and features. Here's a look at restaurant accounting methods and expenses, how tips factor in, and more.

The American Institute of CPAs has sent a set of recommendations to the Internal Revenue Service and the Treasury Department about the impact of last December’s tax code overhaul on accounting method ...

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 ...

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 ...

Future income taxes are upcoming tax costs or savings due to discrepancies between financial statements and tax returns.

The IRS on Friday updated the list of changes in accounting method to which the automatic change procedures in Rev. Proc. 2015-13, as clarified and modified, apply (Rev. Proc. 2019-43). Any method of ...

The article discusses 'Continuing Life Communities Thousand Oaks, LLC v. Commissioner', a recent decision of the Tax Court that rejected an IRS effort to change the method of accounting followed by a ...