Financial tracking is vital to business success because it helps business owners understand and monitor their financial health at all times. Proper financial oversight requires an understanding of the ...

A common accounting cycle in any given business often has nine or 10 steps, depending on the procedures outlined by the given accounting department. Each step in the accounting cycle plays an ...

The accounting process can differ slightly from one business to another based on variances in the chart of accounts, revenue and expense recognition, and cost center breakdown. Despite these ...

Take an in-depth look at the treatment of revenues and expenses within the accrual method of accounting and learn why many ...

Evan Tarver has 6+ years of experience in financial analysis and 5+ years as an author, editor, and copywriter. Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax expert.

Learn what every business owner needs to know about financial accounting, accounting software and financial statements.

Accounting is the process of keeping track of all financial transactions within a business, such as any money coming in and money going out. It’s not only important for businesses in terms of record ...

Effective tax accounting is a complex and high-stakes function. The accuracy of tax provisions is critical to financial reporting, yet vulnerabilities exist due to the reliance on spreadsheets and the ...

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 ...