This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. In financial accounting — one of the most common types ...

Discover the differences, advantages, and drawbacks of single-step vs. multiple-step income statements for better financial ...

The income statement, or profit and loss statement, reflects a company's revenues and expenses for a period. When a company uses the accrual basis of accounting, it records its revenues when they are ...

Learn what every business owner needs to know about financial accounting, accounting software and financial statements.

The link between a balance sheet and an income statement is obvious, but it's also tricky. The more income your business earns, the more value should show up on its balance sheet. But the calculations ...

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. Katrina Ávila Munichiello is an experienced editor, ...

The Financial Accounting Standards Board released an accounting standards update Monday to improve financial reporting by requiring public companies to disclose, in their interim and annual reporting ...