Although the basics of an income statement are the same from business to business, there are notable differences between services, merchandisers, and manufacturers when it comes to the accounting ...

Understanding cash flow statements is important because they measure whether a company generates enough cash to meet its operating expenses.

A good accounting system meets three criteria ... Obviously, these items (which comprise a basic income statement and balance sheet) must be measured and tracked. However, it's equally important ...

Accounting principles are guidelines companies ... Revenues should be recognized on the income statement in the period they are realized and earned—not necessarily when the cash is received.

You will also tackle important topics like the problem of accounting for groups of companies and basic techniques for preparing ... preparation of the three most important financial statements: the ...