What Are Source Documents in Accounting?

Photocopies serve as a convenient and practical alternative, especially when handling large volumes of documents or when originals are not readily available. It’s important to note that for a [...]

Temporary Accounts Definition and Explanation

Any money that remains in these accounts is subsequently transferred to a permanent account, and the accountants produce the appropriate records to prove the transaction. When the new fiscal [...]

How to Prepare a Trial Balance for Accounting

US GAAP has no requirement for reporting prior periods, but the SEC requires that companies present one prior period for the Balance Sheet and three prior periods for the [...]

Leveraged Finance Definition, Examples, How it Works

For individuals, leverage can be the only way you can realistically purchase certain big-ticket items, like a home or a college education. While leverage in personal investing usually refers [...]

Farm Accounting Software Buyers Guide 2023

Besides the license cost, there may be also be fees for implementation, maintenance, training and data migration. Be sure to ask each farm accounting software vendor about their specific [...]

How To Improve Your Accounts Receivable Process

Accounts receivable are listed on the balance sheet as a current asset. Any amount of money owed by customers for purchases made on credit is AR. They should be [...]