But Krauss said that from the moment he and the other scientists arrived on the island, they never saw anything untoward.
COMPANIES THAT FAIL THE $1 MILLION AVERAGE revenue test are not affected by the revenue procedure. For them, determining whether to use the cash or accrual method hinges on two issues: the material income-producing factor test and their type of entity. COMPANIES SELLING MERCHANDISE GENERALLY must use the accrual method to account for purchases and sales.
Accrual accounting can defer your tax liability. Both cash accounting and accrual accounting can offer flexibility around tax planning. In the case of accrual accounting, if you receive an advance payment in 2015 for services that you agree to perform by the end of the following year, you can delay paying taxes on that income until the next tax year.