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.
Accountants balance the books at the end of a companyâs fiscal year. If a company uses the accrual accounting method, as most businesses do, then the accountant deals with year-end accruals before closing the books. All businesses that use accrual accounting have year-end accruals, although some companies simplify matters by refusing to accept new orders during their closing periods.