The observation I've made in the real world over and over again is the misunderstanding of roles when the word "accounting" is used in...

COGS (Costs of Goods Sold) are the direct costs  involved in producing or purchasing the "goods" that a business sells. Goods  refer to...

In bookkeeping, ACCOUNT has a specific and crucial meaning. Understanding what an account is and how it functions is essential for...

Reconciling ensures that accounting software records (such as Quickbooks®) and bank statements match which maintains correct financial...