A common accounting cycle in any given business often has nine or 10 steps, depending on the procedures outlined by the given accounting department. Each step in the accounting cycle plays an ...

The sequence of accounting procedures is also referred to as the accounting cycle. The process of going from sales to end-of-month statements has several steps, all of which must be executed correctly ...

Discover the synergy between income statements, balance sheets, and cash flow statements for a full analysis of a company's financial health and performance.

Discover how companies report long-term debt in their financial statements, listed under long-term liabilities on the balance sheet.

New concept statements released Wednesday address financial statement elements and factors FASB should consider in developing accounting guidance. The statements are presented as new chapters of ...

Business decisions are often driven by data, so the accuracy and reliability of financial statements are paramount. One misstep in financial reporting can have far-reaching consequences, eroding ...

IN CERTAIN INSTANCES CPAs SHOULD CONSIDER preparing and reporting on financial statements using an “other comprehensive basis of accounting” (OCBOA). Tax-basis and cash-basis, including ...

Accounting is vital to a business’s financial hygiene; here’s everything entrepreneurs need to know about it. Many, or all, of the products featured on this page are from our advertising partners who ...