Discover the crucial eight steps of the accounting cycle for accurate financial reporting and why they matter in business.

Most CPAs are familiar with the tax benefit of using an interest charge – domestic international sales corporation, or IC-DISC. What many do not realize is the additional benefit that can be generated ...

A thorough understanding of the obstacles, speed bumps, and/or leverage points a transaction will encounter is helpful not only for peace of mind, but also for the effectiveness of the process. What ...

Companies record every transaction in their accounting books based on the double-entry system. Because every transaction involves certain kinds of monetary exchanges between at least two business ...

Sale and leaseback transactions have long been popular because they present benefits to both seller-lessees and buyer-lessors. The accounting for such transactions has changed significantly, though, ...

The accounting cycle involves a number of steps that are repeated in each reporting period as they correspond to the business processes. They verify the transactions and are implemented to prepare ...

Related-party transactions have played a significant role in accounting failures and frauds. In a study of Securities and Exchange Commission fraud allegations by the Committee of Sponsoring ...

To help you effectively understand and manage the finances of your small business, we've tested the top accounting software ...

As is illustrated by the recent guidance from the IRS with respect to transaction costs, documentation is key. While the Internal Revenue Service (IRS) has continued to issue guidance addressing the ...