EDUCATION SYSTEM

Bookkeeping in the Old Days Prior to computers and software, the bookkeeping for small businesses usually began by writing entries into  j...

There are two main methods of accounting (or bookkeeping): Accrual method Cash method The  accrual method  of accounting is the preferr...

The accounts that are used to sort and store transactions are found in the company's  general ledger . The general ledger is often arran...

Asset accounts are one of the three major classifications of balance sheet accounts:  Assets Liabilities Stockholders' equity (or ow...

Why adjusting entries are needed In order for a company’s financial statements to be complete and to reflect the accrual method of account...

At a minimum of once per year, companies must prepare financial statements. In addition companies often prepare quarterly and monthly financ...