It occurs in financial accounting and reflects discrepancies in a company’s balance sheet, as well as when a company purchases goodwill or services to create a debit. A debit is an accounting entry that results in either an increase in Read More …
Category: Bookkeeping
How Financial Accounting Differs From Managerial Accounting
Management, or managerial accounting, is used internally to run companies and help managers make important financial decisions according to the Motley Fool. Managers must think about the future of the company, so management accounting is significant in planning ahead financially Read More …
Effects of COVID-19 pandemic on accounting and financial reportin
Content Purposes of Study Academy of Accounting and Financial Studies Journal (Print ISSN: 1096-3685; Online ISSN: 1528- How the coronavirus may affect financial reporting and auditing CEO Predictions 2023: ‘War on talent’ will challenge the Accounting industry in 2023 necessary Read More …
The Adjusting Process And Related Entries
Content Accrued Revenue Visit the Bookstore What Are the Types of Adjusting Journal Entries? Purpose of Adjusting Entries Prepaid Expenses The first adjusting entry should be prepared on June 30, 2017, since the insurance for the month of June has Read More …