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

Sometimes companies purchase businesses for more than what they are actually worth. The difference between a business' actual worth and what someone pays for that business is referred to as goodwill.

If you’ve ever looked at your business finances and felt confused, you’re not alone. Many people hear the terms bookkeeping ...

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 ...

Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software. Accounting often starts simple: a few transactions, a basic spreadsheet, and a clear ...

The International Accounting Standards Board published a consultation document Wednesday with eight proposed illustrative examples showing how companies could apply International Financial Reporting ...

Liz Simmons is an education staff writer at Forbes Advisor. She has written about higher education and career development for various online publications since 2016. She earned a master’s degree in ...

Most businesses carry long-term and short-term debt, both of which are recorded as liabilities on a company's balance sheet. Business debt is typically categorized as operating versus financing.

The International Financial Reporting Standards Foundation has published a set of near-final examples showing how companies can improve the reporting of uncertainties in their financial statements ...