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 ...

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

Unrealized gain is an income statement category reserved for investment income that a company expects to receive in the future. Think of it as money on paper rather than cash in the bank. When the ...

Companies prepare the balance sheet and the income statement periodically at the end of each accounting cycle. While a balance sheet relates to a specific date, or a given point within an accounting ...

Traditional and contribution margin income statements provide a detailed picture of a company's finances for a given period of time. While both serve the purpose of showing whether a company has a net ...

Understanding these concepts can help you make smarter financial decisions in the long run and day to day. Many, or all, of the products featured on this page are from our advertising partners who ...

David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning.

You don’t need to be a CPA to understand your company’s financial health. You just need to know where to look. That starts with the income statement—also known as the profit and loss (P&L) ...

Even if accounting isn’t your forte, it’s important to understand accounting basics to run your business. Learn 11 tips for ...

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 ...

Accrual basis accounting is typically the preferred method, but cash basis accounting may work for very small businesses. Many, or all, of the products featured on this page are from our advertising ...