double entry bookkeeping, payroll, payroll tax and Retail

GAAP: What It Is and Why Your Investors Expect It

inDinero Accounting

JUNE 29, 2023

On the accounting side, GAAP requires specific methods for recording transactions, such as double-entry bookkeeping, which involves debiting one account while crediting another in order to maintain accuracy in recording data. This process occurs before any cash payment is made or taxes are due.

accrual accounting

accrual accounting accounting principles accounts payable accounting standards

Accounting Basics for Small Business: A Simple Guide

Snyder

JUNE 20, 2022

A little example to illustrate how the double-entry method works. Imagine you have a retail business selling different goods online. Following the double-entry accounting method, you need to record the sale amount in your cash account as an increase (or debit) and as a decrease (or credit) in your inventory account.

accounting basics

accounting basics general ledger Account accountant

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GAAP: What It Is and Why Your Investors Expect It

Accounting Basics for Small Business: A Simple Guide

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