29 Sep

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

27 Sep

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

23 Sep

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

21 Sep

Budgeting is one of those topics we’d rather avoid, but in business, it’s an absolute necessity. To prepare a reasoned and thoughtful budget, an…

20 Sep

A sole proprietorship is the business or an individual who has decided not to carry his business as a separate legal entity, such as…

15 Sep

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

14 Sep

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

02 Aug

If you have a checking account, of course you balance it periodically to account for any differences between what’s in your statement and what…