A common accounting cycle in any given business often has nine or 10 steps, depending on the procedures outlined by the given accounting department. Each step in the accounting cycle plays an ...

Financial tracking is vital to business success because it helps business owners understand and monitor their financial health at all times. Proper financial oversight requires an understanding of the ...

When running a small construction business, you need to account for your revenues and expenses. You can achieve this task by following the accounting cycle -- that is, the chronological events of ...

An effective process will help you identify errors and inconsistencies, determine availability of funds and identify internal control deficiencies. The reconciliation process begins with financial ...

Workflows exist in every business — including accounting firms. Some are tremendously complex and intertwined, while others are simple and direct. For most firms and their clients, there are workflows ...

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. Over the course of my 25 years of financial and business consulting, I have seen many ...

Last year, the Financial Accounting Standards Board (FASB) provided private companies with an extra year to adopt lease accounting standard ASC 842. When this was announced, 63.8% of surveyed private ...