Transaction Analysis in Accounting
To properly record, or journalize, transactions in the general journal, it is helpful to complete a five-step process. … Read More
General Journal vs. General Ledger
General Journal The general journal is a chronological, or date order, record of the transactions of a business. … Read More
Adjusting Entries
Definition: Journal entries made at the end of the accounting period to measure the period’s income accurately and … Read More
What is Capital Market | Instruments | Components
Unlike money markets, capital markets are markets in which the securities have an original maturity greater than 1 … Read More
What is Money Market | Instruments | Components
The market for bonds with a maturity of less than 1 year. These bonds are all zero-coupon bonds … Read More
Financial System Explained | Components
Definition The system that transfers money between suppliers and users. It comprises financial intermediaries, markets, and instruments (securities). … Read More
Budgeting Process Steps | Managerial Accounting
What is Budgeting? A budget is a financial plan which considers income and expenditure. At its basic level, … Read More
Job Order Costing versus Process Costing
Imagine that you go out to dinner with a friend. You are on a limited budget, so you … Read More
Comparison of Financial and Managerial Accounting
The primary goal of any accounting system is to capture, summarize, and report useful information to users so … Read More
Time-driven Activity-Based Costing (ABC)
Time-Driven Activity-Based Costing A version of ABC which works on estimating time rather than identifying cost drivers through … Read More
Activity-Based Costing System | Steps
A method which is based on activities rather than units, products, or departments. An extension of ABC. Activity-based … Read More
Cost Accounting Systems | Managerial Accounting
Cost System Definition A form of accounting system which captures cost data that will then form the basis … Read More
Cost Classifications in Managerial Accounting
Our purpose here is to provide an introduction to the different ways in which costs can be classified, … Read More
Managerial Accounting and Information Technology
There are numerous information technologies supporting managerial accounting practices. Here, we briefly highlight some technologies that have had a particular … Read More
Free Cloud Accounting Software
At first glance, cloud-based accounting systems seem like the way to go. Sure, these programs have benefits for … Read More