Financial accounting is a multi-step process for companies following double-entry methods. The first and most important step begins with a journal entry: the recording of financial information related ...

A “Download” window will open in Excel letting you know that your document is in the process of being created. Click the “Close” button once the Journal Entry template has finished downloading into ...

Tracking your company’s spending is essential for maintaining accurate financial records. One financial accounting method businesses use is the payroll journal entry. Payroll journal entries record ...

Business managers and accountants commonly use double entry bookkeeping to record business transactions and compose financial statements. Journal entries are initial records of the day-to-day ...

Under the accrual basis of accounting, you must record revenues and expenses in the accounting period in which they were earned or incurred, regardless of when payment occurs. An adjusting entry is a ...

Auditors know that journal-entry testing is one of many procedures they can use in addressing client data completeness and, hence, audit risk (see AU-C Section 240, Consideration of Fraud in a ...

Auditors can use Benford’s Law to identify general ledger irregularities — both those that can indicate fraud and those that do not. In this article, I introduce audit data analytics techniques that ...