Accounting involves reporting financial events and transactions. The double-entry recording system captures a more reliable picture of a business' net worth because it assumes that a single event or ...

Credit means different things depending on its context. For example, the amount available to borrow from a vendor. A credit in accounting is a journal entry with the ability to decrease an asset or ...

In accounting, every financial transaction is recorded by two entries on the company's books. These two transactions are called a "debit" and a "credit," and together, they form the foundation of ...

Differentiate between a checking account and a debit card. Learn how each works, their pros and cons, and when you need them ...

While it seems contradictory that assets and expenses can both have debit balances, the explanation is quite logical when one understands the basics of accounting. Modern-day accounting theory is ...

When it comes to managing your finances, the type of card you use can say a lot about your habits and priorities. One of my ...