Simply using “increase” and “decrease” to signify changes to accounts won’t work. For liability and equity accounts, the reverse is true. A few theories exist regarding the origin of the terms “debit (DR)” and “credit (CR)” in accounting. For inventory, […]

Increased international financial activity necessitates the alignment and harmonization of national accounting practices. In the twenty-first century, the main trend in international accounting is convergence and harmonization. In the field of international accounting, convergence refers to the standardization of national […]

With BELAY Enterprise Accounting, your CFO and back-office financial management solutions are just a quick phone call away. You’ve had your head down growing your business, but one day, you look up and realize things have grown … complicated. Our […]

When your financial records are up to date and accurate, preparing tax returns becomes less stressful. Otherwise, you could end up paying too much or too little in taxes. Bank reconciliation offers multiple advantages, including accuracy, early fraud detection, and […]