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 ...

When you take cash out of your business and put it into a restricted fund, meaning it's set aside for a specific purpose, the transaction must be recorded in accordance with generally accepted ...

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 ...

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 ...