The need for Adjusting entries in Accounting

The need for Adjusting entries in Accounting

The adjusting entries in accounting Adjusting entries are made specifically to update the initial recording of accounting data. There are two instances in which adjusting journal entries are required before the release of financial statements: Certain expenses or revenues have not…

 IFRS VS GAAP: Top 10 Differences

IFRS VS GAAP: Top 10 Differences

IFRS VS GAAP: Accounting students and professionals are always keen to learn the differences between the two primary sets of accounting principles and standards. We call them IFRS and GAAP. Let’s proceed to the discussion with an understanding of IFRS…