Discover how HIFO inventory accounting contrasts with LIFO and FIFO methods, and why it impacts COGS and taxable income, ...

Learn how trade date accounting records transactions on the agreement date, its benefits over settlement date accounting, and its impact on financial statements.

The accounting cycle tracks a transaction until it's added to your company's financial statement. Follow this eight-step ...

There are a lot of things people don’t know about the accounting profession. To a certain extent, that’s fine — if they knew how to create a financial statement or prepare a complex tax return, they ...

Business accounting procedures provide essential information that supports professional decision-making. Management and financial accounting are two methods for tracking, recording and interpreting ...

Consolidated accounting is used to group the financial information of a parent company and one or more subsidiary companies. A parent company owns the majority of voting shares of a subsidiary company ...

Accounting has a reputation for being staid, traditional and slow to adopt new technologies. But is this true? No. In fact, I would argue that technology is transforming accounting—and in an equally ...