Assets and Liabilities
Making a profit in a business is derived from several different areas. It can get a little complicated because just as in our pers…
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Making a Profit
Accountants are responsible for preparing three primary types of financial statements for a business. The income statement reports…
Personal Accounting
If you have a checking account, of course you balance it periodically to account for any differences between what's in your statem…
Bookkeeping Basics
Most people probably think of bookkeeping and accounting as the same thing, but bookkeeping is really one function of accounting, …
Profit and Loss in Accouting
It might seem like a no brainer to define just exactly what profit and loss are. But of course these have definitions like everyth…
Us Accounting Careers
There are many different careers in the field of accounting ranging from entry-level bookkeeping to the Chief Financial Officer of…
What is Book keeping?
So what goes on the accounting and bookkeeping departments? What do these people do on a daily basis? Well, one thing they do that…
GAAP Accounting Principles
If everyone involved in the process of accounting followed their own system, or no system at all, there's be no way to truly tell …
Basic Accounting Principles
Accounting has been defined as, by Professor of Accounting at the University of Michigan William A Paton as having one basic funct…
What Is Accounting Anyway?
Anyone who's worked in an office at some point or another has had to go to accounting. They're the people who pay and send out the…
