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.

Companies that use accrual basis accounting can assemble their statement of cash flows in one of two ways, using either the direct method or the indirect method. The more commonly used indirect method ...

Gross income measures how much total income a company brings in from the sale of its products and services minus the cost of producing those goods and services. In contrast, net income is the profit ...

A small business needs to make more money than it spends to be successful in the long run. Businesses use different methods to quantify this flow of money. Net income and cash flow are financial ...

Net income is the total amount of income left after expenses and deductions are taken out. You can find a company's net income on its income statement to assess the health of a business. Net income is ...