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

The Financial Accounting Standards Board proposed an accounting standards update Monday to give investors more information about a company's expenses. The proposal would require public companies to ...

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 ...