Financial data are most often recorded using a technique called double-entry accounting. This method relies upon a mathematical construct called the accounting equation. Any time an adjustment is made ...

Accounting gives a business a way to keep track of its liabilities and expenses. In terms of liability vs. expense accounts, a liability refers to a financial obligation, or upcoming duty to pay. An ...

Double-entry accounting is the gold standard bookkeeping system for most businesses. It’s a type of bookkeeping where two accounting entries are created for each business transaction. So, each ...

Accounting is a foundational process for every business, no matter how big or small. Learn what accounting is, why it matters and how to make it work for you. Keeping accurate financial records is the ...