IN BRIEF Public company auditing is a complex and challenging area of accounting practice. The following revisits the authors ...

Journal entries are necessary for adjusting the balances of ledger accounts for a variety of reasons, including recognizing accruals, liabilities and other expenses. If an entry posts incorrectly, it ...

If your small business used a mortgage for a home purchase, a journal entry affects the property, mortgage payable and cash accounts. If you paid all cash for a home, a journal entry affects the ...

Please note: This item is from our archives and was published in 2005. It is provided for historical reference. The content may be out of date and links may no longer function. The century of American ...

FASB to weigh whether some stablecoins and other digital assets qualify as cash equivalents, as it also decides which of over ...

The adoption of artificial intelligence (AI) within accounting promises enhanced efficiency, strategic insight, and accuracy. Through a synthesis of current research on AI development and its ...

Journals are created following the business rules and Chart of Accounts architecture for valid values to record and order financial information for management and reporting. Journals should contain ...

Yes, the test environment link is: challenger.irttest.drexel.edu/FinanceToolbox. You have to copy and paste this link into your browser. This will ask you to ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Accurate bookkeeping is a necessity for any business.

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 ...

Sawtelle accounting firm Holthouse Carlin Van Trigt plans to grow with a large office in Salt Lake City and expansion elsewhere. Lease: HCVT leased out a regional office within 650 Main in Salt Lake ...