The accounting system for your business consists of several types of records. Although there are many types of underlying financial records, such as invoices, journals, and receipts, the major ...

Every corporation, even a small private one, has shareholders. It is part of the legal structure. They can be founders, employees and, in some cases, outside investors. If you have a corporation or ...

Not all forms of accounting are the same. Some focus on costs, others on audits and some focus on taxes. While having a solid handle on your business’s finances is essential, how you track business ...

Auditors performing engagements under generally accepted government auditing standards (GAGAS) are subject to new rules reinforcing the principles of transparency and accountability under revisions ...

Last week in a discussion with a business coaching client, I asked if she had updated bookkeeping and accounting records that would help her make the best business decision for a big question about ...

Cash basis accounting records when cash actually changes hands in a transaction, providing a real-time view of your financial position that reflects the actual cash flow of a business or individual.

When the IRS suspects a taxpayer is underreporting income, various IRC sections come into play. Section 6001 requires a taxpayer to keep adequate records to compute taxable income. When a taxpayer’s ...

Payroll accounting helps employers stay on top of what they owe employees and understand how worker compensation impacts cash flow. Accounting is a critical part of every business, but have you heard ...