Accounting principles are the rules that public companies must use when preparing and disclosing their financial statements.

The matching concept, or matching principle, is a fundamental element of accrual-basis accounting. In accrual accounting, a company records revenue in its books as soon as it has done everything ...

In deciding how to keep the books for your business, you have two options: cash-basis accounting or accrual-basis accounting. The difference between them boils down to timing -- specifically, when you ...

Discover how accrual accounting records revenue and expenses when transactions occur, using the double-entry accounting ...

Knowing GAAP will help you understand your accountant's decision-making process better. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you ...