The Internal Revenue Service cast its cold eye on the nation’s expense account economy, and millions of U.S. taxpayers felt the chill. Henceforth, the collectors revealed last week, each taxpayer must ...

At the end of each fiscal year, a company prepares for the new fiscal year by closing its books. As part of the process, the entire balance of all revenue and expense accounts are transferred to the ...

Northwestern uses chart string-based systems to manage financial transactions, in which all expenses are classified by five-digit expense account codes (e.g. – 73475 is “Lab Supplies and Hardware”).

Not surprisingly, many cities and special districts no longer have monies available in their budgets to spend on things such as legal fees to analyze and correct plan administration problems and ...

An expense account sounds simple enough, but it actually means two different things in business. First, it’s the process that lets employees pay for work expenses and get reimbursed by their company.

When a company purchases an asset it does not expect the asset to retain its current value forever. Instead, the company expects the asset to depreciate, or loose some of its value over time.