Discover how accruals affect company finances, with insights into the accrual accounting method, its applications, and examples illustrating its principles.

Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software.

Sometimes companies purchase businesses for more than what they are actually worth. The difference between a business' actual worth and what someone pays for that business is referred to as goodwill.

An accountant uses a suspense account, a temporary account in the business chart of accounts, for recording all or part of a transaction that she doesn't know how else to code. When she identifies the ...

Learn about accounting interpretations, why they matter, and how they clarify standards, prevent errors, and provide consistency in financial reporting.

The double-entry system protects your small business against costly accounting errors. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you ...