Three Accepted Basic Accounting Conventions?

Answer Throughout the month, accountants record each financial transaction that occurs in the accounting records. This information forms the basis for creating financial statements and communicating the f... Read More »

Top Q&A For: Three Accepted Basic Accounting Conventions

Why is the accrual basis of accounting accepted by gaap?

Generally Accepted Accounting Principles (GAAP) are the highest authority on accounting standards in the United States. Accountants use these guidelines to ensure companies follow the proper accoun... Read More »

Is a Financial Statement Required Under Generally Accepted Accounting Principles?

Generally accepted accounting principles, or GAAP, dictate the way corporate bookkeepers must record economic events. This medley of rules also prescribes methodologies that financial managers must... Read More »

How to Do Basic Accounting?

Basic Accounting means getting down to the nuts and boltsAccounting is the language of business. People with knowledge of accounting can be helpful in a variety of ways in almost every field imagin... Read More »

Basic Accounting Tutorial?

Accounting is the method of organizing the financial information of an entity. It's a set of rules that cover every financial situation so that anyone with the skills to read a set of accounting bo... Read More »