Residual value is the estimated value of an asset at the end of its useful life. It's used to figure out things like the value of a car at the end of a lease or how much equipment is worth after it's ...

An important part of the monthly closing cycle for your small business's general ledger is reviewing the trial balance and posting adjusting entries to recognize accruals, prepaid expenses and correct ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

When you purchase supplies, you must enter their full cost in your accounting records. Over time, the supplies are used or discarded. If you use the accrual method of accounting, you must make an ...