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

Businesses provide products or services in exchange for money. The purpose of accounting is to record these financial exchanges or transactions. Simply put, accounting transactions are records kept of ...

Learn about accounting interpretations, why they matter, and how they clarify standards, prevent errors, and provide consistency in financial reporting.

Minor small business accounting errors can have a significant effect on your business's finances. Learn the most common ...

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

An organization's general ledger holds the accounting entries that describe all money coming into or leaving a company. Keeping accounting books manually carries the risk of recording one side of a ...

Until 1991, the accounting profession was largely guided by historical cost, transaction-based accounting.Granted, fair market value and historical cost at the point of the transaction were deemed ...

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 ...

Accounting Standards Update 2018-08 - Not-For-Profit Entities (Topic 958): Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made serves to clarify and ...