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 ...

Journal entries are used to change accounting information in financial systems. Following the double-entry system used in modern accounting, these entries always affect at least two accounts -- one ...

Discover how general ledgers and general journals work together in double-entry bookkeeping to track financial data accurately and efficiently for your business.

Bookkeeping is the process of recording accounting transactions in a company's records. To initially record a transaction, a small business creates a journal entry in its accounting journal, which ...

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

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 ...

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