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 ...

The Public Company Accounting Oversight Board released a staff publication highlighting problems it's seeing with audits of journal entries. Processing Content The publication, Audit Focus: Journal ...

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 ...

Bank reconciliation wouldn't be a problem if everything on your bank statement matched up with your ledgers. Life doesn't always work that way, though. You may need ...

The accounting cycle involves updating, changing and verifying financial transactions during the course of business operations. Recording and posting in accounting are part of this cycle, and though ...

Financial accounting is a specific type of accounting that uses standardized processes and guidelines for businesses to record their financial transactions and prepare financial statements for ...

TOPEKA, Kan. (WIBW) - A professor at the Univesity of Kansas has been appointed as an editor at a top accounting journal. The University of Kansas says professor Chan Li has been appointed as an ...

Maintaining a general ledger helps you gauge a business's financial health and avoid accounting mistakes. Learn what a ...