Financial accounting is a multi-step process for companies following double-entry methods. The first and most important step begins with a journal entry: the recording of financial information related ...

Bookkeeping is the process of recording accounting transactions in a company's records. To initially record a transaction, a small business creates a journal entry in its accounting journal, which ...

A journal entry is used to record an accounting transaction in the general ledger. Workday Finance replaced Financial Edge as our general ledger system effective January 1, 2024. Please note that ...

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

Two or more individuals launch a partnership, which is a form of business organization. Partnerships may change upon the death or withdrawal of one of the partners or the admission of a new partner.

Discover how accruals affect company finances, with insights into the accrual accounting method, its applications, and examples illustrating its principles.