Discover how modified accrual accounting merges accrual and cash basis methods, its key principles, and why it's preferred by government agencies for accurate financial reporting.

Cash basis accounting records when cash actually changes hands in a transaction, providing a real-time view of your financial position that reflects the actual cash flow of a business or individual.

Cash- and accrual-based business accounting are two methods for tracking financial performance. Learn which is right for your business.

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 ...