Accrual basis accounting requires your business to record revenue in the reporting period in which you earn rather than receive the revenue. Businesses that receive advance payments -- such as annual ...

The preparation of a trial balance is an important step of the accounting cycle. An unadjusted trial balance is prepared to check the accuracy of information posted in the general ledger. The suspense ...

Closing the books on an accounting period is a lengthy and complex process. No matter how complex, it needs to start somewhere. For every company, big or small, it starts with a trial balance. This is ...