Accounting Basics

A A Misstatement is Inconsequential If a reasonable person would conclude after considering the possibility…

Payroll accounting is simply recording the payroll expenses of a business into the general ledger.  …

Sales tax accounting involves asset, revenue, and liabilities accounts such as Sales Revenue, Cash, and…

The accounts payable process for a small business is simply the process of accounting for…

Accounts Receivables (AR) are sales made by your small business, but not paid for yet…

Accounts Receivables (AR) are sales made by your small business, but not paid for yet…

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…