Small businesses keep revenue, expense and income summary reports, often referred to collectively as the books, to know exactly how much money is going in and out of the business. At the end of each ...

A company often employs a variety of accounting tools to keep track of its profits or losses and expenses. Along with knowing the overall profit or loss incurred by the company since inception, a ...

Accounting software developer FloQast has some creative ways for accountants and tax professionals to relax during the hectic final days of this year’s extended tax season with a new coloring book and ...

Closing entries transfer revenue and expense balances to the retained earnings account. This process resets the temporary account balances to zero for the new accounting period. Recording closing ...

The book-tax accounting gap allows corporations to minimize their earnings for tax purposes while maximizing them in reports to investors, all within the letter of the law. Although the U.S. Treasury ...