Companies that comply with generally accounting principles, called GAAP, may opt to use the declining balance method to calculate depreciation on a particular asset or group of assets. The declining ...

Learn how the previous balance method calculates credit card interest, its implications for cardholders, and why it might not be the best choice for you.

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 ...

Managing the financial accounts for one company is tough. If your business invests in another business, keeping the books becomes even more complicated. If, say, you buy one of your suppliers, do you ...

The IRS has issued new guidance on automatic accounting method changes. Revenue Procedure 2009-39 provides certain additions, modifications and clarifications to Revenue Procedures 2008-52 and 97-27 ...

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 ...