An important part of the monthly closing cycle for your small business's general ledger is reviewing the trial balance and posting adjusting entries to recognize accruals, prepaid expenses and correct ...

Businesses can choose between two accounting methods: cash and accrual. While sole proprietorships or small mom-and-pop businesses may choose the easier cash accounting method, larger companies use ...

Financial accounting is a multi-step process for companies following double-entry methods. The first and most important step begins with a journal entry: the recording of financial information related ...

The handling of prepaid expense deferrals and expense accruals will be consistent with the last nine fiscal years. General Accounting processes all prepaid expense deferrals and accruals for all of ...

To provide guidance for financial year-end closing activities. The UTSA fiscal year is September 1 through August 31. Year-end closing activities are performed each fiscal year to help provide an ...

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small ...

A forum was held to address the government's long-term fiscal challenges caused by climate change and aging, and to discuss the importance of accrual accounting for enhancing the fiscal sustainability ...

Should small businesses use cash or accrual accounting? This question gets asked almost as much as “paper or plastic?” and “debit or credit?” While the IRS requires some companies to use accrual ...

Although small business taxpayers usually prefer to use the cash method of accounting, some, for whom considerations of accelerating deductions weigh paramount, might prefer to use the accrual method ...