Financial accounting is a specific type of accounting that uses standardized processes and guidelines for businesses to record their financial transactions and prepare financial statements for ...

Accounting has two methodologies to recognize income and expenses: cash and accrual basis. Each method has its merits, benefits and disadvantages. Depending on which you select, you will get a ...

The type of accounting method a company chooses will determine how it will record and keep track of finances. According to Entrepreneur.com, the two most basic accounting methods are cash and accrual ...

Understanding these concepts can help you make smarter financial decisions in the long run and day to day. Many, or all, of the products featured on this page are from our advertising partners who ...

Equity accounting is a method of reporting a company's profits from the operations of an affiliated company that it has an interest in but does not own outright.

Private business owners need to understand the difference between cash and accrual accounting methods to accurately interpret their company's financial health. LONG ...

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of inventory accounting like ...

What Is the Cost Accounting Method? The cost accounting method, which assesses a company's production costs, comes in a few broad styles and cost allocation practices. However, cost accounting comes ...

You might think accounting is the same across the board, but it can differ significantly by industry. For example, while restaurant accounting uses many of the same costing methods, profit and loss (P ...