Any small business that publishes financial statements must prepare those statements in accordance with generally accepted accounting principles, or GAAP. GAAP includes accounting principles and ...

A business that uses the accrual basis of accounting recognizes revenue and expenses in the accounting period in which they are earned or incurred, regardless of when payment occurs. This differs from ...

What Is the Difference Between the Revenue Recognition Principle and the Expense Matching Principle? Understand the uses of these two core principles. The revenue recognition principle is a ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Suzanne is a content marketer, writer, and fact-checker. She holds a Bachelor ...