In accrual accounting, an expense is recognized when the business becomes liable for it, not when it settles the account. A company may pay some expenses, such as utility bills, in arrears and others, ...

Learn what every business owner needs to know about financial accounting, accounting software and financial statements.

Learn how to use the High-Low Method to separate fixed and variable costs efficiently. Discover its applications, limitations, and how to calculate costs.

Expense accounts, also called expense allowances, are plans under which companies reimburse employees for business-related expenses. These expenses include travel, entertainment, gifts, and other ...

Administrative expenses include most expenses that are part of your operating budget. To be classified as an administrative expense, the expense must be a regular business expense that aids the ...

Contractors have 30 days after work resumes to file for equitable adjustments, but the accounting and documentation must ...

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small ...

Discover how accounting software aids financial transactions, simplifies audits, and saves space. Explore types, benefits, ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. President John F. Kennedy said, ‘‘The slogan—‘It’s ...