One of the toughest rites of passage investors go through is learning how to navigate financial statements. In particular, understanding the difference between accounting income and cash flow is a ...

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

Accrual basis accounting is typically the preferred method, but cash basis accounting may work for very small businesses. Many, or all, of the products featured on this page are from our advertising ...

Even if accounting isn’t your forte, it’s important to understand accounting basics to run your business. Learn 11 tips for ...

Accounting standards for taxes and financial reporting differ. Some differences never change, such as standards for tax-exempt income or claiming half of entertainment expenses. Other differences ...

Andy Smith is a Certified Financial Planner (CFP®), licensed realtor and educator with over 35 years of diverse financial management experience. He is an expert on personal finance, corporate finance ...

Notes, also known as footnotes, are important in accounting because they provide additional information regarding methodology, valuation, time period and myriad other calculation nuances. Financial ...

Explore the key differences between successful-efforts and full-cost accounting methods for oil and gas companies, including their impact on expenses and financial transparency.

Time and again, CPAs and other accounting and tax professionals are faced with the unique income tax provisions related to trusts and estates. Aside from summarizing the general rules related to the ...

With five years of experience as a writer and editor in the higher education and career development space, Ilana has a passion for creating accessible, relevant content that demystifies the higher-ed ...

In order to determine income using generally accepted accounting principles, you take the revenue that a company recognizes for a specific period and subtract the cost of the goods or services that ...