One of the most important rules in accounting is the "matching principle," which requires revenues and expenses to be recorded together in the same time periods based on their causal relationships.

"Accounts payable" and long-term debt are accounting terms referring to specific entries on the balance sheet of a business. Although, both represent funds owed by your business, knowing the ...

What Is the Difference between Accounts Receivable and Accounts Payable? Your email has been sent Accounts payable and receivable are required to ensure your cash flow and spending are appropriately ...