The basis of accounting, also known as the accounting basis or accounting method, refers to the set of principles and rules used to determine when and how financial transactions are

Bank reconciliation is a critical process in bookkeeping and accounting that helps ensure the accuracy of a company’s financial records by comparing the company’s internal records (often referred to as

A balance sheet, also known as the statement of financial position, is a fundamental financial statement in bookkeeping and accounting. It provides a snapshot of a company’s financial position at

In bookkeeping and accounting, assets refer to the economic resources owned or controlled by a business or organization that have measurable value and the potential to provide future economic benefits.

An annual report in bookkeeping and accounting is a comprehensive document that a company or organization produces at the end of its fiscal year to provide a detailed overview of

In bookkeeping and accounting, an “accrual” refers to the recognition of revenue or expenses on the financial statements before the corresponding cash transactions have occurred. Accruals are accounting entries made