Your employees complete time tickets as unfinished goods move through the different manufacturing departments. The time tickets are a log of the hours each direct labor employee worked on the ...

When a business purchases property, plant or equipment -- fixed assets that generally have a useful life in excess of one year -- generally accepted accounting principles, or GAAP, require all ...

Tracking your company’s spending is essential for maintaining accurate financial records. One financial accounting method businesses use is the payroll journal entry. Payroll journal entries record ...

Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software.

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 ...