As with all businesses, a manufacturing company uses a sequence of events known as an accounting cycle to prepare financial statements. Being a manufacturer brings some specific requirements, notably ...

The accounting process can differ slightly from one business to another based on variances in the chart of accounts, revenue and expense recognition, and cost center breakdown. Despite these ...

When a business engages in any economic activity, such as selling goods, purchasing supplies or paying salaries, these events must be recorded in the financial books. This is the first phase of the ...