An accountant uses a suspense account, a temporary account in the business chart of accounts, for recording all or part of a transaction that she doesn't know how else to code. When she identifies the ...

T-accounting is a method used by accountants and bookkeepers that gets its name from the T shape formed by the two columns used to record entries. Also called double-entry accounting, T-accounting ...

Should a small business use a cash or accrual accounting method? A CPA answers with examples. If you are an entrepreneur or small business owner, it is a good idea to familiarize yourself with both ...

Accounting and financial reporting standards for state and local governments that address nonexchange transactions achieved their purpose, according to a new report. Nonexchange transactions are ...

Bartering occurs when goods or services are exchanged without the use of a monetary medium. For a barter transaction to take place, two individuals negotiate to determine the relative value of their ...

Artificial intelligence is a new trend in the globalization of finance, and ChatGPT is at the front line of serving the finance world. Given its capabilities, ChatGPT has the potential to transform ...

There are five overall principles to managing the financial transactions of sponsored research funds. Policies and procedures within Research Accounting Services have been developed in support of ...