How Are Entries Made Under Each Type of Accounting?

Answer Accounting is a very particular process. Accountants must follow specific rules and guidelines when recording business transactions. The two broad types of accounting are financial and managerial. ... Read More »

Top Q&A For: How Are Entries Made Under Each Type of Accounting

Accounting Entries for Ending a Business?

Businesses end their existence by selling all assets and paying off debts before closing the doors. The assets include inventory, equipment and real estate. This liquidation may occur as part of a ... Read More »

Accounting Time Frame for Adjusting Entries?

Companies experience a variety of transactions throughout each period. The company records most transactions when they occur. Some activities occur that generate an expense or revenue but do not tr... Read More »

How to Prepare Closing Entries as Part of the Accounting Cycle?

The accounting cycle is the orderly recording and processing of transactions. It starts with journal entries, which are then posted to the general ledger. The next two or three steps involve the pr... Read More »

Can Financial Accounting Decisons Be Made Without Management Accounting?

Financial and management accounting coexist well in many firms. Both types of accounting can be integrated with the advent of the enterprise resource planning software (ERP), which connects both sy... Read More »