The accounting cycle is an eight-step repeatable process essential for accurate financial reporting. It starts with ...

The handling of prepaid expense deferrals and expense accruals will be consistent with the last nine fiscal years. General Accounting processes all prepaid expense deferrals and accruals for all of ...

There are four types of accruals: accrued expenses, prepaid expenses, accrued revenue, and deferred revenue. Businesses are rarely cash-only these days. They often sell products or services now ...