An accountant uses a suspense account, a temporary account in the business chart of accounts, for recording all or part of a transaction that she doesn't know how else to code. When she identifies the ...

T-accounting is a method used by accountants and bookkeepers that gets its name from the T shape formed by the two columns used to record entries. Also called double-entry accounting, T-accounting ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Somer G. Anderson is CPA, doctor of accounting, and an accounting and finance ...

Sale and leaseback transactions have long been popular because they present benefits to both seller-lessees and buyer-lessors. The accounting for such transactions has changed significantly, though, ...

Related-party transactions have played a significant role in accounting failures and frauds. In a study of Securities and Exchange Commission fraud allegations by the Committee of Sponsoring ...

Accrual accounting follows the matching principle, which aims to align revenue recognition with the expenses that helped ...

Another major issue in revenue accounting is when to recognize or record the revenue. A common practice is to record the revenue when we receive payment (cash) from the customer. This is referred to ...

The Securities and Exchange Commission has approved the Public Company Accounting Oversight Board’s new standard on auditing related party transactions and significant unusual transactions. The PCAOB ...