Posts tagged Accrued Expenses

The regulators do not permit a business organized as a C-corporation (in the United States) to use cash basis accounting. Instead, these companies must use …

One of the primary tasks of the accountant during the period-end closing process is the calculation of expense accruals, of which there are potentially a …

There are 2 types of adjustment entries in accounting (bookkeeping), they are: Deferral and Accrual Adjustment.   Deferral Adjustments Deferral adjustments are used for updating …