Business happens in real time, but it can take time for everything else to catch up. This includes accounting. Sure, financial transactions may happen instantly, but account reconciliation happens at ...

In early May, several pronouncements were issued by the Internal Revenue Service in connection with changes in accounting periods. The guidance reflects the continuing effort by the IRS to identify ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Accurate bookkeeping is a necessity for any business.

The Internal Revenue Service and the Treasury Department announced changes Tuesday in the procedures for changing the accounting period of foreign corporations owned by U.S. shareholders subject to ...

The end of any accounting period is chaotic without the right procedures in place to ensure everyone has the right information and reports. Establishing set procedures for period-ending reporting ...

Net income or loss represents the difference between a company's revenues and expenses during an accounting period. It may be a month, quarter or fiscal year, but a time frame in between is not ...

Companies have always faced a major issue of how to reflect changes in accounting methods and error corrections in financial statements. In 2005 FASB issued Statement ...

Understand adjusting entries for accounting purposes, how they are made and what they impact. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

Consumers account for their time differently than they track their money, according to a new study in the Journal of Consumer Research. "Imagine finding a free ticket to an outdoor concert after ...

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 ...

This paper investigates the effect of using an end-of-period accounting scheme for inventory-related costs when costs actually accrue in continuous time. Using a simple model, we show that (i) the end ...