Learn how comprehensive tax allocation reconciles tax and financial reporting, uncovering discrepancies in income, expenses, ...

Discover the hidden details in financial footnotes essential for interpreting income statements, balance sheets, and cash flow statements for better investment decisions.

Alongside accounting basics, understanding the different financial forecasting models and how to implement the model that’s right for your startup’s business plan is absolutely essential. Neither is ...

While large corporations and publicly traded companies must follow the financial accounting, small businesses have the choice of using either the financial accounting method or the tax accounting ...

Taxes become deferred when a company's financial accounting methods are different than the acceptable tax accounting methods. This creates a discrepancy between the general ledger and the amounts ...

On May 10, 2018, the Internal Revenue Service (IRS) issued Rev. Proc. 2018-29, 2018-21 I.R.B. 1, which provides automatic accounting method change procedures for taxpayers seeking to align methods of ...

Tax accounting is a critical field that focuses on preparing and analyzing tax payments and returns. It differs from other accounting fields in that it is guided by specific tax-related provisions set ...

Forensic accounting is a rapidly growing field that combines accounting, auditing and investigative skills to detect and prevent financial fraud and misconduct. Notably, forensic accounting has become ...

Business.com aims to help business owners make informed decisions to support and grow their companies. We research and recommend products and services suitable for various business types, investing ...

The Financial Accounting Standards Board (FASB) continues to issue pronouncements that are intended to improve investors’ and lenders’ ability to value equity and debt securities. Numerous statements, ...

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