The whole point of accounting is to present a precise financial picture of your business operations. By the accepted standards of the industry, financial accounting consists of five basic elements.

Accounting is a comprehensive system for collecting, recording, classifying, summarizing, interpreting, and communicating financial information. It is often referred to as the language of business as ...

Accounting is vital to a business’s financial hygiene; here’s everything entrepreneurs need to know about it. Many, or all, of the products featured on this page are from our advertising partners who ...

Financial accounting is a specific type of accounting that uses standardized processes and guidelines for businesses to record their financial transactions and prepare financial statements for ...

There’s nothing like a good clear financial statement. And in a time when lenders are very stingy, those basic reports are more valuable than ever. In fact, this is one of those times that good ...

A business's bookkeeping system that tracks the money coming in vs. the money going out Aside from every business owner’s inherent desire to stay in business, there are two other key reasons to set up ...