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.

Discover the differences, advantages, and drawbacks of single-step vs. multiple-step income statements for better financial ...

The income statement summarizes sales, expenses and profits for an accounting period. Expenses include cost of goods sold, operating and non-operating expenses, and unusual expenses. Operating ...

Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software.

Unrealized gain is an income statement category reserved for investment income that a company expects to receive in the future. Think of it as money on paper rather than cash in the bank. When the ...

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, ...

The Financial Accounting Standards Board released an accounting standards update Monday to improve financial reporting by requiring public companies to disclose, in their interim and annual reporting ...