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 ...

Learn about footings in accounting: how they function in balance sheets, their importance in finalizing balances, and a ...

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 ...

Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software.