Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software.

An accountant uses a suspense account, a temporary account in the business chart of accounts, for recording all or part of a transaction that she doesn't know how else to code. When she identifies the ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Somer G. Anderson is CPA, doctor of accounting, and an accounting and finance ...

Sale and leaseback transactions have long been popular because they present benefits to both seller-lessees and buyer-lessors. The accounting for such transactions has changed significantly, though, ...

Financial accounting refers to the generally accepted accounting principles used to create financial statements for the public, while tax accounting follows the rules of the Internal Revenue Service.

Discover the key assumptions of accounting postulates and their role in shaping accounting standards, including revenue ...

Related-party transactions have played a significant role in accounting failures and frauds. In a study of Securities and Exchange Commission fraud allegations by the Committee of Sponsoring ...