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 ...

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) ...

A manufacturing company makes physical products from parts and materials. The income statement is one of the most important financial statements this type of firm prepares. This statement comes in ...

Companies prepare an income summary and an income statement at the end of an accounting period. While an income summary is a clearing account used to close income-statement accounts at the end of a ...

You can find information about a company's debt and how much interest it pays to service its debt, but the actual interest rate it pays is generally not included in its financial statements. And while ...

Discover how accruals affect company finances, with insights into the accrual accounting method, its applications, and examples illustrating its principles.

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. Katrina Ávila Munichiello is an experienced editor, ...

A business bank statement tracks transactions, balances, and cash flow. Learn key components and tips for better financial management. A business bank statement is an official financial document ...