Companies will often buy a large amount of certain supplies to take advantage of cost reductions when buying in volume. These types of purchases might be anything that is regularly used in the company ...

Inventory adjustments are necessary in just about any business, and there are two basic methods used to adjust inventory. Perpetual inventory adjustment occurs when the inventory is adjusted to ...

What is an Adjusting Journal Entry? an entry made at the end of an accounting period to document any unrealized income or expense during the period. Adjusting journal entries are made in the general ...

Financial accounting is a multi-step process for companies following double-entry methods. The first and most important step begins with a journal entry: the recording of financial information related ...