Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software.

T-accounting is a method used by accountants and bookkeepers that gets its name from the T shape formed by the two columns used to record entries. Also called double-entry accounting, T-accounting ...

An accountant uses a suspense account, a temporary account in the business chart of accounts, for recording all or part of a transaction that she doesn't know how else to code. When she identifies the ...

Q. Is there an inexpensive, easy-to-use, third-party add-on solution for achieving drillable financial statements when your small business accounting system does not offer that functionality? A. I am ...

Accounting is a foundational process for every business, no matter how big or small. Learn what accounting is, why it matters and how to make it work for you. Keeping accurate financial records is the ...

Most businesses carry long-term and short-term debt, both of which are recorded as liabilities on a company's balance sheet. Business debt is typically categorized as operating versus financing.

The Public Company Accounting Oversight Board's Investor Advisory Group is asking for examples of critical audit matters or key audit matters that can be used for analysis. The PCAOB's Office of the ...

The International Financial Reporting Standards Foundation has published a set of near-final examples showing how companies can improve the reporting of uncertainties in their financial statements ...

No matter how meticulous finance teams are, mistakes happen. In fact, it’s estimated that accounting errors and manual financial reporting cost U.S. businesses around $7.8 billion a year. And those ...

Discover the key assumptions of accounting postulates and their role in shaping accounting standards, including revenue ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...