Learn how double-entry accounting records transactions twice, ensuring balance and accuracy by showing both a credit and a ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. David Kindness is a Certified Public Accountant (CPA) and an expert in the ...

The International Accounting Standards Board has published a proposed set of changes in the accounting standards for financial liabilities to address what it calls the counter-intuitive effects of ...

Tax reform, advances in both technology and the capabilities of hackers, and a host of other developments are creating lots of new liability risks for accountants. Deb Rood, risk control consulting ...

In accounting terms, a liability is an amount that you owe a creditor. Liabilities generally fall into two categories -- current and long-term. Current liabilities include debts you owe that you ...

Asset management is an integral part of accounting basics that deals with the monitoring and maintenance of valuable items owned by an individual or an entity. Assets contribute significantly to the ...

The double-entry system protects your small business against costly accounting errors. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you ...

An S corporation, no matter how small, must account for business transactions throughout the year. This is necessary to comply with federal and state tax reporting requirements at the end of the year.

Maintaining a general ledger helps you gauge a business's financial health and avoid accounting mistakes. Learn what a ...