Financial accounting is a multi-step process for companies following double-entry methods. The first and most important step begins with a journal entry: the recording of financial information related ...

When you take cash out of your business and put it into a restricted fund, meaning it's set aside for a specific purpose, the transaction must be recorded in accordance with generally accepted ...

A “Download” window will open in Excel letting you know that your document is in the process of being created. Click the “Close” button once the Journal Entry template has finished downloading into ...

Auditors know that journal-entry testing is one of many procedures they can use in addressing client data completeness and, hence, audit risk (see AU-C Section 240, Consideration of Fraud in a ...

The accounting cycle tracks a transaction until it’s added to your company’s financial statement. Follow this eight-step ...

When you buy supplies for your company, you record the expense in your supplies account. Once the supplies are used, they become an expense that must be listed on the income statement. You need to ...