This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. In financial accounting — one of the most common types ...

Learn what every business owner needs to know about financial accounting, accounting software and financial statements.

Cash-basis accounting is a primary method that small businesses use to keep track of their income and expenses. Typically, if a small business has annual sales of less than $5 million, it may choose ...

Explore OCBOA, a flexible non-GAAP accounting framework that includes tax-basis, cash-basis, and statutory accounting, offering an easier, cost-effective alternative for financial statements.

Unrealized gain is an income statement category reserved for investment income that a company expects to receive in the future. Think of it as money on paper rather than cash in the bank. When the ...

You don’t need to be a CPA to understand your company’s financial health. You just need to know where to look. That starts with the income statement—also known as the profit and loss (P&L) ...

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. Katrina Ávila Munichiello is an experienced editor, ...

Joseph, Director at Wise Business Plans, has overseen 15K written business plans, raising over $1Bn in funding in more than 400 industries. As you create your financial projections for your business ...

Income statements detail revenue, expenses, and net income from top to bottom. Reading starts with revenue, deducts expenses, and ends with net income. Subtotal figures help identify missing account ...

The Financial Accounting Standards Board released an accounting standards update Monday to improve financial reporting by requiring public companies to disclose, in their interim and annual reporting ...