Editor’s Note: This post is focused on helping you understand profit and loss statements. This financial statement is used by most small business owners to help assess business profits and losses ...

An income statement is your business’s bottom line: your total revenue from sales minus all of your costs. Financial data is always at the back of the business plan, but that doesn’t mean it’s any ...

Income statements detail revenue, expenses, and net income from top to bottom. Reading starts with revenue, deducts expenses, and ends with net income. Subtotal figures help identify missing account ...

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 ...

To adopt FASB Statement no. 159, companies must comply with the requirements of Statement no. 157, Fair Value Measurements . Companies and their auditors must consider whether the use of fair value ...