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...
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...
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...
If you are a small business owner, you may feel overwhelmed about how to ensure that your finances are tracked and recorded correctly. Financial statements are an official and formal record of your company’s financial activity. The most important financial statements...
Most business owners and entrepreneurs start companies because they are passionate about the service or product they offer. It is safe to say that most business owners are not equally as passionate about accounting. Therefore, in most cases, entrepreneurs and business...
