Accrual basis accounting requires your business to record revenue in the reporting period in which you earn rather than receive the revenue. Businesses that receive advance payments -- such as annual ...

In a dual entry accounting system, entries are made in debit and credit columns. Increases in assets -- the things you own -- and expenses are entered in the debit column, while liabilities -- or ...

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