Explore the key differences between successful-efforts and full-cost accounting methods for oil and gas companies, including their impact on expenses and financial transparency.

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of inventory accounting like ...

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 ...

Forensic accountants are accountants that have specialized training and often receive special designations such as Certified Fraud Examiner (CFE) by the Association of Certified Fraud Examiners, ...

When you open your business, how you choose to account for your finances will be one of the most important decisions that you will make. You will need to choose a sole proprietor accounting method. An ...

In Rev. Proc. 2025-23, the IRS on Monday provided a comprehensive, updated list of changes in tax accounting methods to which the automatic change procedures in Rev. Proc. 2015-13, as subsequently ...

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 ...