Companies prepare the balance sheet and the income statement periodically at the end of each accounting cycle. While a balance sheet relates to a specific date, or a given point within an accounting ...

Greg DePersio has 13+ years of professional experience in sales and SEO and 3+ years as a writer and editor. Financial accounting summarizes and reports a business's financial position to external ...

Drexel University's financial accounting policies and procedures follow the generally accepted accounting principles of Fund Accounting as prescribed by the National Association of College and ...

Previously, we discussed some ways to improve cash flow within a company. This evolved from a question that was posed by contractors on a message board regarding the difference between profits and ...

The Balance Sheet represents the financial position of the University and Business Areas at a particular point in time. The Balance Sheets are represented as Assets, Liabilities, and Equity/Fund ...

Learning to adjust long-term debt on a balance sheet can be daunting for a business. Handling a long-term notes payable journal entry or providing long-term loan accounting treatment can be ...

The balance sheet, income statement, and cash flow statement are foundational to the financial reporting of any company. Public companies are considered to be held to a higher standard because of ...

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

Maintaining a general ledger helps you gauge a business's financial health and avoid accounting mistakes. Learn what a ...