Cash Basis vs. Accrual Method of Accounting

Cash Basis vs. Accrual Method of Accounting

If you are a business owner, it is critical for you to understand the finances and operations of your business. All the financial documents and accounting reports for your business will serve different purposes and, therefore, will provide important information upon...
How to Read a Balance Sheet

How to Read a Balance Sheet

The balance sheet shows a business’s current financial data. It is an important document because it illustrates a snapshot of a business’s financial health, including assets, liabilities, and overall shareholder equity. Understanding how to read a balance sheet is...
What Are Debits and Credits?

What Are Debits and Credits?

If you are a business owner, you likely have numerous business transactions that have an impact on your financial statements. In order to accurately account for all these business transactions, numbers are recorded in two different accounts: the debit column and the...