Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software.

There are three types of financial statements for businesses: income statement, balance sheet and cash flow statement. Each of these financial statements shows a different aspect of the business.

Discover what accounting changes are, how they affect financial statements, and why full disclosure is essential for ...

A profit and loss statement summarizes a business’s revenue and expenses. Learn how to use a profit and loss statement to ...

Learn about footings in accounting: how they function in balance sheets, their importance in finalizing balances, and a ...

Financial accounting refers to the generally accepted accounting principles used to create financial statements for the public, while tax accounting follows the rules of the Internal Revenue Service.

This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. To understand the financial health of your business, ...