Accounting & finance
glossary

This post will cover the basics of bank reconciliation, including examples, how to do monthly reconciliations, and tips for a smooth process.

Depreciation journal entries, a cornerstone of accounting, empower businesses to accurately spread the cost of assets over their lifespan. Learn the basics.

Straight-line depreciation is a widely used method that allocates the cost of an asset evenly over its useful life. Learn how to use the formula and more.

Learn how right-of-use (ROU) assets and lease liabilities impact your financial statements and why ROU assets matter for businesses managing leases.

Learn the basics of fixed assets, why they’re important to your business, and how to account for them accurately in your financial statements.

This post covers everything you need to know about the month-end close process, from the basics to best practices for a smooth close (plus a free checklist).

Delve into the world of real estate depreciation with this comprehensive guide. Learn why it matters and how it can transform your financial practices.

This technical article will delve into the depths of asset useful life, covering its definition, significance, and functionality.

This article delves into the intricacies of recognizing, measuring, and disclosing intangible assets, addressing potential pitfalls accountants may face.

Discover the definitions, benefits, and calculation of double declining balance method, a depreciation technique that accelerates asset cost allocation.

This post will delve into the technical aspects of equipment depreciation, addressing common questions and providing insights to improve your understanding.

Master the art of rental property depreciation. Get the lowdown on the complexities, tax benefits, and alternatives for managing property investments.

Equipment finance is a financial arrangement that helps businesses acquire necessary equipment without paying the full cost upfront. Learn the basics.

In this post, we cover everything you need to know about leasehold improvement depreciation life, from its definition to its benefits and alternatives.

Leasehold improvements encompass modifications, enhancements, or alterations made to a leased space by the tenant or lessee. Learn how they work and more.

Understand the fundamentals of debits and credits in accounting. Learn how these essential concepts form the foundation of double-entry bookkeeping.

Discover the process of order-to-cash, a fundamental business cycle encompassing order processing, inventory management, invoicing, and payment collection.

Gain valuable financial insights, streamline collections, and forecast cash flow for your business. Learn how to leverage accounts receivable aging reports.

This post delves into prepaid expenses, providing a clear understanding of their mechanisms, significance, benefits, potential drawbacks, and alternatives.

Temporary accounts, also known as nominal accounts, refer to accounts closed at the end of each accounting period. Learn the basics and best practices.

Learn how adjusting entries guarantee accurate financial statements, streamline processes, and pave the way for automation with our comprehensive guide.

dive into ins and outs of the accounts receivable journal entry, from understanding how it works and why it's crucial to exploring its benefits and pitfalls.

This post explores the intricacies of intercompany accounting, how it works, its relevance, advantages, disadvantages, and alternative methods.

Financial reconciliation refers to the process of comparing and matching financial records to ensure consistency and accuracy. Learn the basics and more.

Learn the basics of intercompany transactions in business operations. Discover how these transactions streamline financial reporting within corporate groups.

Delve into the intricacies of bad debt expense, its importance in financial accounting, and how it can impact your business with this comprehensive guide.

In this post, we delve into the intricacies of cash flow forecasting, exploring its significance, benefits, and how it aids in financial decision-making

Learn how to simplify and automate your accounts receivable processes with a focus on Days Sales Outstanding (DSO). Discover effective strategies…

Take a deep dive into the intricacies of journal entries, explore their importance, benefits, and downsides, and even discuss alternative methods.

Confused between lessor and lessee? Gain clarity with our comprehensive guide. Understand the roles, rights, and responsibilities of lessors and lessees.

Discover the importance of accounts receivable in business. Read on to learn how to optimize cash flow and maintain healthy customer relationships.

Discover the ins and outs of the lease accounting standard ASC 842. Learn how ASC 842 revolutionizes lease management, compliance, and financial reporting.

dive deep into the concept of financial statements, exploring their importance, how they work, their benefits, potential downsides, and more.

Discover the importance of cash flow and its impact on financial health. Learn how cash flow works, its benefits, challenges, and alternatives. Simplify and…

Working capital represents the amount of liquid assets a company has. Discover the importance of working capital and how it influences your business.

A chart of accounts is a list of all the accounts used by a business to classify financial transactions. Learn about how it helps organize financial data.

A balance sheet provides a snapshot of a company's assets, liabilities, and equity. Learn what goes into a balance sheet and how to read one.

Remittance refers to any money transfer made from one person or organization to another. Learn the basics and how processes have become more efficient.

The general ledger serves as the central repository for an organization's financial transactions. Learn the basics and more in this comprehensive guide.