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 ...

Learn what every business owner needs to know about financial accounting, accounting software and financial statements.

Most organizations need to prepare budgeted income statements when setting financial goals. If you do your own accounting, you can simply fill out a budgeted income statement template in Excel. This ...

Explore OCBOA, a flexible non-GAAP accounting framework that includes tax-basis, cash-basis, and statutory accounting, offering an easier, cost-effective alternative for financial statements.

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) ...

IN CERTAIN INSTANCES CPAs SHOULD CONSIDER preparing and reporting on financial statements using an “other comprehensive basis of accounting” (OCBOA). Tax-basis and cash-basis, including ...

Accounting standards for taxes and financial reporting differ. Some differences never change, such as standards for tax-exempt income or claiming half of entertainment expenses. Other differences ...

A balance sheet provides a snapshot of a company's assets, liabilities and equity at a specific point in time, while an income statement summarizes its revenues and expenses over a period to show ...

Discover how Statements of Financial Accounting Standards (SFAS) guide U.S. accounting principles. Learn about their impact and why they've been replaced.