Thanks to accrual basis accounting, many expenses appear on the balance sheet before money changes hands. The company records these expenses, called accrued expenses, in the period they occur. They ...

Employers are responsible for paying payroll taxes to the IRS on their employees' income. Most companies pay estimated taxes on a quarterly basis, keeping the money in their accounts in between. The ...

To accrue payroll means to identify salaries and wages that your employees earned but have not yet been paid for. After you pay the accrued expense, you make adjusting entries in your payroll journal ...

Progress has not been as quick as predicted, but is expected to continue, according to IFAC and the Chartered Institute of Public Finance and Accountancy.

You’re fresh out of college, a new hire at the local CPA firm. It’s your first tax season, and you’re handed a business tax return to prepare. As you peruse the file, you notice that in preparing the ...