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

Rochester Institute of Technology adopted the Financial Accounting Standards Board (FASB) new accounting guidance on leases FASB Accounting Standards Codification Section 842 ("ASC 842") on July 1, ...

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The Financial Accounting Standards Board issued a proposed accounting standards update Wednesday offering guidance for debt exchange transactions involving multiple creditors. Processing Content The ...

Many small-business owners start out with little to no bookkeeping or accounting knowledge. Don’t be discouraged if you start a business and quickly realize accounting is not your strong suit.

Discover how micro accounting works at personal, corporate, and government levels. Learn its processes and how it contrasts with macro accounting strategies.

Another major issue in revenue accounting is when to recognize or record the revenue. A common practice is to record the revenue when we receive payment (cash) from the customer. This is referred to ...