Any business that provides a service or sells products has an accounting cycle. Accounting is how a business tracks its finances. Although service companies and merchandising companies offer vastly ...

A business owner must understand his numbers to ensure that he is on track to profitability and desired growth. Without understanding things such as costs, margins and profits, the owner is risking ...

Financial tracking is vital to business success because it helps business owners understand and monitor their financial health at all times. Proper financial oversight requires an understanding of the ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Suzanne is a content marketer, writer, ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Accurate bookkeeping is a necessity for any business.

The accounting cycle prompts bookkeepers to record and process any accounting events a company incurs during a period. These events range from when a transaction occurs to the final representation of ...