Auditors know that journal-entry testing is one of many procedures they can use in addressing client data completeness and, hence, audit risk (see AU-C Section 240, Consideration of Fraud in a ...

Auditors can use Benford’s Law to identify general ledger irregularities — both those that can indicate fraud and those that do not. In this article, I introduce audit data analytics techniques that ...

Learn about accrued expenses, their role in accrual accounting, and how they affect financial statements with examples, ...

When you take cash out of your business and put it into a restricted fund, meaning it's set aside for a specific purpose, the transaction must be recorded in accordance with generally accepted ...

An important part of the monthly closing cycle for your small business's general ledger is reviewing the trial balance and posting adjusting entries to recognize accruals, prepaid expenses and correct ...

A “Download” window will open in Excel letting you know that your document is in the process of being created. Click the “Close” button once the Journal Entry template has finished downloading into ...

Learn how a general ledger supports double-entry accounting, compiling vital transaction data for accurate financial reporting and analysis.