Accounting is the process of keeping track of all financial transactions within a business, such as any money coming in and money going out.

The accounting cycle is an eight-step process that accountants and business owners use to manage a company’s books. Learn more about it in our guide.

Frequently asked questions What is a simple definition of accounting? Accounting consists of tracking financial transactions and analyzing what they mean for your business.

Revenue recognition is a generally accepted accounting principle (GAAP) that identifies the specific conditions where revenue ...

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices.