What is it that accountants do and what are the roles, responsibilities, and trends in the profession? It may seem like a straightforward question, with accountants being responsible for the…
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A journal entry records business transactions in the company’s accounting books. Making a journal entry begins the accounting cycle. It details every financial transaction the business makes and notes each…
Financial statements are a collection of written records presenting an overview of an organization’s financial position, cash flows, and results. Financial statements are usually audited by accountants, government agencies, and…
Collateral is an asset that lenders accept as security for a loan. It minimizes the risk for lenders and can take the form of real estate or another asset depending…
No matter what industry you are in, finance and accounting will play a role in various sections. Accountants analyze and prepare financial records for organizations and individual clients. However, certain…
The efficiency of an accounting department is crucial when it comes to maintaining the financial health and status of a business. Managerial accounting supports companies by monitoring and reporting financial…
Accounting principles are the basic rules that a company follows when reporting financial information. These principles have been developed through common usage and as the basis for the complete suite…
Accounting’s history can be traced back thousands of years. Accounting consists of recording and summarizing business and financial transactions. Methods of record-keeping, accounting, and accounting tools have been in effect for…
Accounting is the practice of keeping track of a company’s financial activities. The definition of accounting is summarizing, analyzing, and reporting financial transactions to oversight authorities, regulators, and tax collection…
Accounts Payable is a specific account inside a company’s ledger. It represents short-term debts that need to be paid off either to the company’s suppliers or its creditors. At some…
