Learn the principles of financial accounting, its importance, and how it functions to provide a clear picture of a company's financial health and compliance.

Previously, we discussed some ways to improve cash flow within a company. This evolved from a question that was posed by contractors on a message board regarding the difference between profits and ...

In business accounting, several basic financial statements are prepared regularly to maintain awareness of the company's financial condition. These documents provide management, creditors and possible ...

Even though the income statement normally attracts the most attention from investors, the balance sheet is the true starting point for understanding a company’s financial position. It shows how much a ...

The set-up of the balance sheet and essential framework are largely the same in a for-profit and nonprofit business. However, basic terminology and account details are different based on the distinct ...

Stockholders' equity equals assets minus liabilities, framing investor stake after creditors. Paid-in capital includes monies from stock sales, often split into par value and excess amounts. Retained ...