Discover how accruals affect company finances, with insights into the accrual accounting method, its applications, and examples illustrating its principles.

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 ...

Discover what applied cost means in accounting, how it works with allocation rates, and see an example to understand its role ...

Financial accounting refers to the generally accepted accounting principles used to create financial statements for the public, while tax accounting follows the rules of the Internal Revenue Service.

If you are an entrepreneur or small business owner, it is a good idea to familiarize yourself with both the cash and accrual accounting methods. So, what’s the difference between cash and accrual ...

The double-entry system protects your small business against costly accounting errors. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you ...

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.

Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software. Accounting often starts simple: a few transactions, a basic spreadsheet, and a clear ...

The International Accounting Standards Board published a consultation document Wednesday with eight proposed illustrative examples showing how companies could apply International Financial Reporting ...

The structure that’s common at CPA firms has benefited the accounting profession for decades. CPA firms have been organized to provide opportunities for recent college graduates to develop their ...

Accrual basis accounting is typically the preferred method, but cash basis accounting may work for very small businesses. Many, or all, of the products featured on this page are from our advertising ...