Bookkeeping

In the United States, certification requirements for accountants vary from state to state. But one requirement is universal—the passing of the Uniform Certified Public Accountant Examination. This exam is written and graded by the American Institute of Certified Public Accountants (AICPA). For most accounting and auditing professions, you’ll need at least a bachelor’s degree in … Read more

If the balance in the petty cash account is supposed to be $75, then the petty cash box should contain $45 in signed receipts and $30 in cash. Assume that when the box is counted, there are $45 in receipts and $25 in cash. This creates a $5 shortage that needs to be replaced from … Read more