Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Khadija Khartit is a strategy, investment, ...

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The general tax rules for income recognition under an accrual method of accounting were changed in the law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, which added new Secs. 451(b) and (c).

When you glance at a company’s income statement, you see its revenues and expenses neatly listed, culminating in that all-important net profit figure. But have you ever stopped to wonder when those ...

FASB and the International Accounting Standards Board (IASB) failed to reach a consensus for new lease accounting guidance Wednesday but vowed to continue working together in pursuit of consistency.

While everyone is focusing on tax reform, a topic that should not be overlooked is the financial statement impact of the new revenue recognition standard ASC 606 Revenue from Contracts with Customers.

Accrual method accounting separates revenue recognition from cash flow. That means a company records revenue in its books based on whether it has earned money, not whether it has actually received ...

It's my annual "Taxes from A to Z" series! For the series, I’ll focus on terms that you might see on your tax forms and statements but not necessarily in the headlines. If you’re wondering whether you ...