What is the Difference Between Permanent and Temporary Accounts?
In accounting, Permanent accounts carry a balance from one month to the next. Temporary accounts are zeroed out at the end of each month. Permanent accounts are the balance sheet accounts, Assets,...
Petty Cash is a small amount of funds set aside to cover incidental expenses such as postage, office supplies, or employee reimbursements. Petty Cash is an Asset. The purpose of Petty Cash is to...
What is the International Accounting Standards Board (IASB)?
In the United States our financial accounting standards are issued by the Financial Accounting Standards Board (FASB). The international business community has its own version called International...
Cash Over and Short is an income statement account used to track differences in cash collections from what is expected and what is actual. It is used in businesses that use cash in day-to-day...
The QuickBooks ProAdvisor program offers a variety of training and certification options for accountants and bookkeepers. These trainings and certifications are worthwhile pursuits for these...
The QuickBooks Online ProAdvisor program, available to all accounting professionals at no cost, provides a host of valuable tools for accountants, bookkeepers, and tax preparers including free...
