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 ...

Accounting for your small business must be very clear. In the event of a audit, an auditor needs to be able to follow transactions clearly to understand them. This is ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Kittikorn Nimitpara / Getty Images In ...