Kategori: Bookkeeping

  • Cash vs Accrual Accounting: Which is Best for Law Firms?

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    However, under US GAAP, the accounting for related legal costs is subject to an accounting policy election. Acceptable accounting policies include expensing related costs as incurred or accruing related costs when they are deemed probable and reasonably estimable. When it comes to accounting for law firms, like any field, there are a few things that…