Finding a good accountant does not always end up being a simple task. There are so many accountants that seem to appear every…

While some lines of an income statement depend on estimates or forecasts, the interest expense line is a basic equation. When accounting for…

The first and most important part of an income statement is the line reporting sales revenue. Businesses need to be consistent from year to…

Direct costs are those costs that can be directly attributed to a product or product line, or to one source of sales revenue, or…

Some business owners choose to create partnerships or limited liability companies instead of a corporation. A partnership can also be called a firm,…

Most businesses start out as a small company, owned by one person or by a partnership. The most common type of business when there…

Financial statements are the backbone of a complete financial report. In fact, a financial report is not complete if the three primary financial statements…

Forensic accounting is the practice of utilizing accounting, auditing, and investigative skills to assist in legal matters. It encompasses 2 main areas…

Accountants and auditors help to ensure that the Nation’s firms are run efficiently, its public records kept accurately, and its taxes paid…

In an accountant’s reporting systems, depreciation of a business’s fixed assets such as its buildings, equipment, computers, etc. is not recorded as a cash…