Bookkeeping

Decide on the necessary steps to correct these discrepancies, whether through further verification or adjustments. This ensures that the assets tie to the liabilities and equity […]

The statement records your organization’s assets, liabilities, and the difference between the two for a certain accounting period. Accrual accounting, in contrast, records expenses or revenue […]

Handling client trust accounts demands strict adherence to ethical guidelines and best practices. It is crucial to never commingle trust funds with the law firm’s operating […]

If accounting for lawyers seems intimidating, a robust knowledge of the basics can help every practice avoid common mistakes. Familiarize yourself with the generally accepted accounting […]