Accounting Basics

Your small business’s break-even point is the point where the total amount of revenue received…

Financial ratios and performing a financial analysis using your financial statements can be a valuable…

Understanding financial statements is one of the keys to your small business success. Sadly, many…

A general accounting ledger is a collection of your chart of accounts. It is where…

What is a Journal Entry? A journal entry is the primary record of all financial…

Most medium and large businesses use a double entry system which tracks their income and…

There are two basic ways to record your financial transactions: Single entry bookkeeping can used by…

A number of basic accounting principles have been developed that are the basic building blocks…

A company's accounting records and financial statements are based on accounting principles, concepts, detailed rules,…

If the words "debits" and "credits" sound like a foreign language to you, you are…