The accounting cycle takes accountants through ten distinct steps, each of which depends on information generated in the previous step. The accounting cycle is continually repeated, with the final ...

The accounting cycle tracks a transaction until it's added to your company's financial statement. Follow this eight-step ...

Discover the audit cycle process, from identification to management review, and learn how it ensures accurate financial ...

Accounting is very important for running any kind of business, especially a small business. Accurately keeping track of expenses and profits can result in a small business earning a lot of money or ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Accurate bookkeeping is a necessity for any business.

Evan Tarver has 6+ years of experience in financial analysis and 5+ years as an author, editor, and copywriter. Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax expert.

When a business engages in any economic activity, such as selling goods, purchasing supplies or paying salaries, these events must be recorded in the financial books. This is the first phase of the ...