Your business transactions must be recorded on a regular basis to create current financial statements. Financial statements are used by your accountant to prepare tax returns; by investors and lenders ...

At the end of each accounting period, a business makes adjustments to certain accounts to update its records before preparing its financial statements. An unadjusted trial balance is a chart that ...

Account reconciliation is a critical process in financial accounting where internal records are compared with external documents to ensure consistency and accuracy. It helps verify that all ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...