Accounting gives a business a way to keep track of its liabilities and expenses. In terms of liability vs. expense accounts, a liability refers to a financial obligation, or upcoming duty to pay. An ...

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”).

Sales teams are vital to a company, providing the crucial connection between product and story that a potential customer can identify with. In order for sales teams to get the word out about the ...