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

Accounting is very important for running any kind of business, especially a small business. Accurately keeping track of expenses and profits can result in a small business earning a lot of money or ...

While bookkeeping and accounting are both essential business functions, there is an important distinction. Bookkeeping is responsible for the recording of financial transactions. Accounting is ...

Discover how micro accounting works at personal, corporate, and government levels. Learn its processes and how it contrasts with macro accounting strategies.

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 ...

The accounting profession is undergoing a dramatic transformation as artificial intelligence and intelligent process ...

Set up an accounts payable process to ensure vendors are paid on time, reduce duplicate payments, and maintain accurate financial records for your business.

Last year, the Financial Accounting Standards Board (FASB) provided private companies with an extra year to adopt lease accounting standard ASC 842. When this was announced, 63.8% of surveyed private ...

Payroll accounting helps employers stay on top of what they owe employees and understand how worker compensation impacts cash flow. Accounting is a critical part of every business, but have you heard ...

Robotic process automation is playing a larger role at companies, including in the accounting and finance area, but many executives feel more needs to be done, according to a new report. Processing ...

The handling of prepaid expense deferrals and expense accruals will be consistent with the last nine fiscal years. General Accounting processes all prepaid expense deferrals and accruals for all of ...

When a business engages in any economic activity, such as selling goods, purchasing supplies or paying salaries, these events must be recorded in the financial books. This is the first phase of the ...