Non-profit organizations are not in business to make a profit. This simple but significant issue points to the absence of profits or losses in the non-profit world--a major difference as compared with ...

The Chart of Accounts (COA) is the backbone of the financial system. It provides the organizing framework for both financial and management reporting within the financial system. The COA structure is ...

Accrual accounting is the GAAP-preferred practice of recording all revenues and expenses when they occur, even if payment has not yet been sent or received. In business, all financial transactions ...

In a company's financial records, contra-revenues and expenses produce the same ultimate result: They both reduce net income. The difference is that expenses represent money that flows out of a ...

Accounting is a foundational process for every business, no matter how big or small. Learn what accounting is, why it matters and how to make it work for you. Keeping accurate financial records is the ...

Accounting is vital to a business’s financial hygiene; here’s everything entrepreneurs need to know about it. Many, or all, of the products featured on this page are from our advertising partners who ...

What Is Fund Accounting? Definition, Importance and How It Works Your email has been sent Fund accounting is an accounting system that’s used by nonprofit organizations or government entities. Learn ...