The accounting system for your business consists of several types of records. Although there are many types of underlying financial records, such as invoices, journals, and receipts, the major ...

Businesses in the Unites States do their accounting under one of two methods: cash and accrual. The difference lies largely in when a business recognizes the revenue it earns and expenses it incurs.

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. There are a number of types of accounting, serving a wide ...

Asset management is an integral part of accounting basics that deals with the monitoring and maintenance of valuable items owned by an individual or an entity. Assets contribute significantly to the ...

Learn what every business owner needs to know about financial accounting, accounting software and financial statements.

FASB is seeking comments on a proposed Accounting Standards Update (ASU) that is intended to improve the accounting for purchased financial assets, requiring that all the assets — with certain limited ...

Please note: This item is from our archives and was published in 2021. It is provided for historical reference. The content may be out of date and links may no longer function. Accounting for and ...

Depreciation is a word with so many meanings that it is all but meaningless. In asset management, depreciation must be defined carefully each time it is used, and there must be a full understanding of ...