FASB's new standards for revenue recognition and lease accounting have significantly changed the accounting for these popular transactions.

There are big differences between financial accounting and managerial accounting, including why one is highly uniform and the ...

Brex reports that virtual bookkeeping streamlines finances, reduces costs, and offers real-time access to expertise without ...

Revenue recognition is a generally accepted accounting principle (GAAP) that identifies the specific conditions where revenue ...

Want to steer clear of accounting mistakes and have foolproof books? Follow these seven steps.

Explanation of the Dual Method of Accounting. Businesses use accounting methods to record and monitor financial transactions, such as income, expenses, liabilities and assets. The dual or double ...

Manual accounting uses several paper ledgers and journals where accountants record financial information. The general ledger includes miscellaneous transactions and the aggregate balance of all ...

Today, though, this feature is redundant, and I don’t recommend using it. If you only track your cleared transactions, your accounting system will naturally reconcile each day.

Practical Experience: Practical experience managing financial transactions, using accounting software, and maintaining accurate financial records is invaluable for bookkeepers.

Most CPAs are familiar with the tax benefit of using an IC-DISC, but many do not realize the additional benefit that can be generated by a different method of calculation.