A standard of efficient business accounting is maintaining detailed records on accounts receivable. One part of the accounting process is the revenue cycle, an important group of business activities ...

Another major issue in revenue accounting is when to recognize or record the revenue. A common practice is to record the revenue when we receive payment (cash) from the customer. This is referred to ...

Identifying and assessing the risks of material misstatement due to fraud are among the most challenging aspects of auditing in recent years, according to outreach conducted by the AICPA Auditing ...

Revenue is the income the business generates from production activities. An unadjusted trial balance is an unprocessed list of ledger account balances at the end of the accounting period. The ...

Bartering occurs when goods or services are exchanged without using money as payment. For a barter transaction to take place, two individuals negotiate to determine the relative value of their goods ...