Discover how cash purchases impact a company's income statement and where to find detailed records in financial reports.

Cash- and accrual-based business accounting are two methods for tracking financial performance. Learn which is right for your business.

Discover how modified accrual accounting merges accrual and cash basis methods, its key principles, and why it's preferred by government agencies for accurate financial reporting.

Accounting is undoubtedly one of the most crucial components of running a successful business. It's impossible to overlook the significance of keeping track of your finances. With a clear ...

Learn about the methods of calculating and tracking inventory that are used in retail accounting.

Accounting software isn't just for big enterprises. Sole traders, freelancers and contractors will all benefit from keeping their books in order ...