Business happens in real time, but it can take time for everything else to catch up. This includes accounting. Sure, financial transactions may happen instantly, but account reconciliation happens at ...

Companies have always faced a major issue of how to reflect changes in accounting methods and error corrections in financial statements. In 2005 FASB issued Statement ...

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 ...

Good bookkeeping is necessary to have the financial information you need to make sound business decisions. Many, or all, of the products featured on this page are from our advertising partners who ...

Consumers account for their time differently than they track their money, according to a new study in the Journal of Consumer Research. "Imagine finding a free ticket to an outdoor concert after ...

Understand adjusting entries for accounting purposes, how they are made and what they impact. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

It is common practice for businesses to start their journey with generic accounting software. However, as day-to-day bookkeeping tasks become complex, it can be difficult to make informed decisions to ...

Following FASB’s issuance of Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842), in 2016, GASB issued Statement No. 87, Leases, in June 2017, to become effective for reporting periods ...