Financial accounting is a multi-step process for companies following double-entry methods. The first and most important step begins with a journal entry: the recording of financial information related ...

The accounting cycle tracks a transaction until it’s added to your company’s financial statement. Follow this eight-step ...

Bookkeeping is the process of recording accounting transactions in a company's records. To initially record a transaction, a small business creates a journal entry in its accounting journal, which ...

Journal entries are used to change accounting information in financial systems. Following the double-entry system used in modern accounting, these entries always affect at least two accounts -- one ...

The Public Company Accounting Oversight Board released a staff publication highlighting problems it's seeing with audits of journal entries. Processing Content The publication, Audit Focus: Journal ...

If you’ve ever looked at your business finances and felt confused, you’re not alone. Many people hear the terms bookkeeping ...

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