Internal controls are systems and procedures designed to ensure that all employees perform their duties ethically and honestly. Accounting controls deal specifically with the integrity of internal ...

When I was a junior accountant eons ago, my boss would always give me the cash to reconcile or audit, the minutes to “abstract,” and the internal control questionnaire to go over with the controller ...

The Fast Company Executive Board is a private, fee-based network of influential leaders, experts, executives, and entrepreneurs who share their insights with our audience. BY Stephen Nalley Effective ...

Six areas on internal controls are essential. Controls should be considered a form of quality control. Internal controls should be sensible and efficient. Policies designed to control a demonstrable ...

Generally accepted accounting principles include three sets of rules that apply to and cover most every accounting transaction. Petty cash reconciliations, which occur monthly or before replenishing a ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Cash basis accounting records when cash actually changes hands in a transaction, providing a real-time view of your financial position that reflects the actual cash flow of a business or individual.

Accrual accounting is one of the primary accounting methods and is based on the matching principle, which dictates that revenues and their associated expenses be recorded in the same accounting period ...

Accrual basis accounting is typically the preferred method, but cash basis accounting may work for very small businesses. Many, or all, of the products featured on this page are from our advertising ...

Many small businesses start off strong with a solid business plan, an impressive product, sufficient funding and a growing customer base. Then, somewhere along with the way, the business stalls, ...

Accrual accounting is the preferred approach for companies reporting their financial statements under generally accepted accounting practices (GAAP), which are issued through the standards of the ...

The Office of Accounting and Financial Services is solely responsible for the collection and control of all University related cash receipts. All cash receipts must be deposited through the Office of ...