News: Bookkeeping

Read our QuickBooks Online pricing post to learn more, and don’t forget to check if Intuit is running any sales promotions. Check out our list of free accounting software for more low-budget options. So if you’d like to customize your accounting software for your...

The perpetual system, on the other hand, provides detailed and real-time inventory management but at a higher cost and complexity. The choice between the two systems should be based on a business’s specific operational needs, resources, and long-term growth...

Typically, common stock is issued and traded far in excess of the par value, but bonds and preferred stock are issued at or near their par value. When a corporation is formed, the articles of incorporation must set a par value for its common stock, which all...

The Average Collection Period represents the number of days that a company needs to collect cash payments from customers that paid on credit. For the formulas above, average accounts receivable is calculated by taking the average of the beginning and ending balances...

U.S.-based companies are required to report under generally accepted accounting principles (GAAP). International Financial Reporting Standards (IFRS) are relied on by firms outside of the U.S. Below are some of the key distinctions between the two standards, which...