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Profit and Loss Statement (P&L)
Anyone interested in active investing, picking stocks or investigating the financial health of a company must know…
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30 Basic Accounting Terms
Basic accounting terms, acronyms, abbreviations and concepts to remember Check out these basic accounting terms…
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How to analyze financial reports to make informed decisions
So you might be asking yourself, why did we just do all of that? Seems…
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Why monitoring Cash Flow is important for business
The cash flow report is the third component of a company’s financial statements. The report…
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How to create Balance Sheet
The Balance Sheet attempts to show how much the business is worth. It does this by illustrating…
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How to produce a Profit and Loss Statement
A Profit and Loss Statement illustrates how much profit you made in any given period,…
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How to prepare trial balance
The Trial Balance is, as the name suggests, a table where we lay out all…
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How to calculate Depreciation (Balance Day Adjustment)
Earlier we discussed the term capital expenditure. Let’s explore this a little further. Capital expenditure is when…
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What is Ledger & How to create One
We’ve just processed all our transactions into journals. The next step in the accounting process is…
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How to do a Journal Entry
OK soldiers. Time to do some real accounting! Everything we do from this point on…