Welcome to the accounting section of Suite101! Accounting is an integral part of business in today's world. Whether the type of accounting you are interested in is financial or managerial, you can find information about it here.
Our topics cover many different subjects including U.S. generally accepted accounting principles (GAAP), basic accounting topics, small business accounting and taxes, and accounting designations such as the Certified Public Accountant (CPA) and Certified Management Accountant (CMA) designations.
Check out the listing of all the featured articles, blog posts and contributing articles . Keep an eye out as there will be many new subject areas and articles added weekly.
If there are any subjects you would like to see featured please feel free to email me with suggestions.
Accounts Payable and Three-Way Matching
Under accrual accounting, payments are recorded when they occur, rather than when they are paid. Accounts payable is the intermediate step used to track expense. more...
Reading a Budget Variance Report
Most companies have computer systems that generate reports that show variances from the budget. Managers need to be able understand them to report accurately. more...
Creating a Budget with Volume Changes
Managers and directors of operations and support departments need to be able to forecast the impact of volume changes on their expense budgets. more...
Creating a Budget for an Established Department
In most large businesses, managers and directors of non-financial departments are required to create budgets for their departments, if there is stable volume. more...
Prepaid Expenses and the Matching Principle
A key principle in accounting is that expenses and revenue should be matched to the time period that they occur. This can be accomplished by amortization. more...
Fixed, Flexible and Revised Budgets
Companies have choices when preparing projections for future periods. A flexible budget can provide better results than a simple fixed budget. more...
Businesses need to be able to forecast the future to appropriately allocate resources. Four separate areas need to be budgeted for accurate measurements. more...
Inventory Methods Used in Accounting
Supplies and other items purchased for later use can be set up as inventory to be expensed subsequently. Accounting has methods to accurately measure this current asset more...
All feature articles in Accounting
All contributors in Accounting
How to Record a Prepaid Expense
In: Bookkeeping
By:
Miranda Miller
Turning Old Stock Market Losses Into Tax Breaks
In: Taxes
Software to Simplify the Accounting Cycle
In: Bookkeeping
By:
Miranda Miller
All contributing articles in Accounting