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 ...

Construction businesses can use special accounting methods to recognize income. By selecting one of these methods, you can figure your taxes based on your progress in completing a construction ...

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 ...

On Monday, Dec. 10, the Internal Revenue Service (IRS) announced a broad expansion of the cash method of accounting that puts an end to the sticky 'cash versus accrual' accounting question that has ...

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 ...

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

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

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 ...

Accrual basis accounting is typically the preferred method, but cash basis accounting may work for very small businesses. Many, or all, of the products featured on this page are from our advertising ...