Thanks to accrual basis accounting, many expenses appear on the balance sheet before money changes hands. The company records these expenses, called accrued expenses, in the period they occur. They ...

One of the most important rules in accounting is the matching principle. This rule requires that revenues be recorded in the same periods as the expenses spent to produce them, just as it requires ...

Accrued payables and expenses are accounts and monies owed but not yet paid, and it is important that new business owners understand how and where to record them so their financial statements ...