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, ...

In a double-entry accounting system, a corporate bookkeeper records every transaction through two accounts, depending on the underlying economic event -- the other name for a transaction. The ...

The income statement is one of the core financial statements for any business. Every daily operation that impacts cash flow has a direct impact on the income statement. If you understand what ...

IN CERTAIN INSTANCES CPAs SHOULD CONSIDER preparing and reporting on financial statements using an “other comprehensive basis of accounting” (OCBOA). Tax-basis and cash-basis, including ...