Keeping accurate accounting records is an important part of running a successful small business. In addition to protecting your business in case of an audit, organized records help provide a picture ...

At the end of an accounting period, certain accounts are closed so they have a zero balance at the beginning of the new accounting period. The act of zeroing these accounts is called closing entries.

Selling and administrative expenses include costs like marketing and rent, not tied to product production. Managers use these expenses to tailor company strategies and optimize operations. Frequent ...

Learn what an onerous contract is, regulations for reporting them, and examples. Explore how IFRS and GAAP differ in handling these unfavorable contracts.

Discover the difference between fixed and sunk costs. Learn why all sunk costs are fixed but not all fixed costs are sunk, ...

Travel and expense solutions provider Navan announced the release of Navan Accountant Console, a dedicated solution made specifically for accounting firms. The centralized dashboard handles spend ...

Most investors are familiar with financial accounting. It is the financial reports and standards we use to review a company's financial performance each quarter and year. Inside the company, though, ...