Financial Accounting

What is LIFO (Last In, First Out) method? Who is LTFO? Any links below? The most interesting way to study […]

What is FIFO (First In, First Out) method? This is a tutorial on how to use it. Have you tested?

What are the different inventory valuation methods? Lets say that we have just two models: A model is available (in

How do you record inventory in accounting? Introduction This is what I’ll begin with. I’m not a real accounting hobbyist,

What is the purpose of a statement of changes in equity? The statement of the terms is a key piece

What are the steps in the accounting cycle? The chart below shows the steps in the accounting cycle that should

How do you close temporary accounts at the end of the period? The first time that feature changed, many users

What are T-accounts in accounting? Accounting These are a few of the ways that accountancy is defined. There are four

What is a general ledger? A general ledger is a collection of or replica sets, or replicated copies of one

How do you prepare a trial balance? I am part of a big firm that is planning to give away