Financial accounting is a multi-step process for companies following double-entry methods. The first and most important step begins with a journal entry: the recording of financial information related ...

A topside journal entry is an adjustment made by a parent company on the accounting sheets of its subsidiaries during the preparation of the consolidated financial statements. They are necessary for ...

If your small business used a mortgage for a home purchase, a journal entry affects the property, mortgage payable and cash accounts. If you paid all cash for a home, a journal entry affects the ...

Tracking your company’s spending is essential for maintaining accurate financial records. One financial accounting method businesses use is the payroll journal entry. Payroll journal entries record ...

A journal entry is used to record an accounting transaction in the general ledger. Workday Finance replaced Financial Edge as our general ledger system effective January 1, 2024. Please note that ...

The Public Company Accounting Oversight Board released a staff publication highlighting problems it's seeing with audits of journal entries. The publication, Audit Focus: Journal Entries, noted that ...

Journals are created following the business rules and Chart of Accounts architecture for valid values to record and order financial information for management and reporting. Journals should contain ...

The top-side journal entry is most susceptible to fraud by management override. It’s possible to make adjustments in subledgers, but this requires collusion with other organizational departments, ...

Sale and leaseback transactions have long been popular because they present benefits to both seller-lessees and buyer-lessors. The accounting for such transactions has changed significantly, though, ...

The month-end close is accounting's most enduring ritual; a hard deadline that impacts workflows, sets review cycles, and ...

The ITS Computer Services chargeback rates to be effective July 2025 (fiscal year 2026) are as follows: The rate for federal grant & contract funded faculty and staff is $248.90 per FTE/month The RIT ...