Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. The balance sheet, income statement, and cash flow ...

Hello, I have a few questions I thought I would ask on this form as I have seen so many great answers from people.

Find out why accountants consider work in progress (WIP) to be a current asset on the balance sheet for financial accounting purposes.

The U.S. Treasury can draw up to $700 billion in new funding from its gold revaluation account at the Federal Reserve. Read ...

Unearned revenue is a liability because it represents a company’s obligation to deliver goods or services in the future.