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.
Two of the most commonly accounting methods that businesses employ are the Generally Accepted Accounting Principles and the STAT (Local Statutory Accounting Principles). To convert from one standard to another method, a business must make certain adjustments to its financial statements.