Accrual accounting requires a business to record revenues and expenses in the period in which they are earned or incurred, regardless of when payment occurs. When payment occurs on a date that is ...

Adjusting entries are a periodic requirement for an accrual-based accounting system. Its advantages are that it keeps the books in order and that it matches revenues and costs to periods in which you ...

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 ...