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 ...

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 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 ...

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 ...