T-accounting is a method used by accountants and bookkeepers that gets its name from the T shape formed by the two columns used to record entries. Also called double-entry accounting, T-accounting ...

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 ...

Closing the books on an accounting period is a lengthy and complex process. No matter how complex, it needs to start somewhere. For every company, big or small, it starts with a trial balance. This is ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...