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.

Private business owners need to understand the difference between cash and accrual accounting methods to accurately interpret their company's financial health. LONG ...

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 ...

If you own your own business or manage one for someone else, you can learn how your business performed in a given period by reviewing your company's financial statements. If you use the accrual method ...

Cash basis accounting records when cash actually changes hands in a transaction, providing a real-time view of your financial position that reflects the actual cash flow of a business or individual.

Two sets of financial statements for a company that cover the same time period can both be technically correct yet display dramatically different values. The key to effective financial discovery means ...