Small Business Accounting

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August 31, 2024 4 min read Definitions

Cash Basis Accounting: Revenues and Expenses Recognition

Accounting Finance Accounting Methods Cash Flow Financial Reporting Small Business Accounting Revenue Recognition

Cash Basis Accounting is a method of accounting where revenues and expenses are recognized only when cash transactions occur. This simplifies financial tracking by focusing solely on actual cash flow.

August 31, 2024 4 min read Definitions

Micro-Entity Accounts: Simplified Accounting for Small Businesses

Accounting Finance Business Micro-Entity Accounts Small Business Accounting Simplified Accounts Financial Reporting Compliance

Micro-Entity Accounts offer a streamlined and simplified approach to accounting tailored for the smallest businesses, ensuring compliance with legal requirements while minimizing administrative burden.