Learn what every business owner needs to know about financial accounting, accounting software and financial statements.

Financial accounting refers to the generally accepted accounting principles used to create financial statements for the public, while tax accounting follows the rules of the Internal Revenue Service.

The two types -- or methods -- of financial accounting are cash and accrual. Although they're distinct, both methods rely on the same conceptual framework of double-entry accounting to record, analyze ...

Financial tracking is vital to business success because it helps business owners understand and monitor their financial health at all times. Proper financial oversight requires an understanding of the ...

A business bank statement tracks transactions, balances, and cash flow. Learn key components and tips for better financial management. A business bank statement is an official financial document ...

Learn how administrative accounting supports decision-making and operational control with roles like payroll management and budgeting. Discover key differences from financial accounting.

The International Financial Reporting Standards Foundation has published a set of near-final examples showing how companies can improve the reporting of uncertainties in their financial statements ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Accounting is the process of keeping track of all financial transactions within a business, such as any money coming in and money going out. It’s not only important for businesses in terms of record ...

Related-party transactions have played a significant role in accounting failures and frauds. In a study of Securities and Exchange Commission fraud allegations by the Committee of Sponsoring ...