Financial tracking is vital to business success because it helps business owners understand and monitor their financial health at all times. Proper financial oversight requires an understanding of the ...

Evan Tarver has 6+ years of experience in financial analysis and 5+ years as an author, editor, and copywriter. Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax expert.

A common accounting cycle in any given business often has nine or 10 steps, depending on the procedures outlined by the given accounting department. Each step in the accounting cycle plays an ...

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

Generally Accepted Accounting Principles, or GAAP, comprise a set of rules and regulations set forth by the Financial Accounting Standards Advisory Board (FASAB) and the Governmental Accounting ...

Discover the three essential financial statements required by GAAP: income statement, balance sheet, and cash flow statement, ...

New concept statements released Wednesday address financial statement elements and factors FASB should consider in developing accounting guidance. The statements are presented as new chapters of ...

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 ...