Small-business owners who want to maximize their company's potential should practice fundamental accounting and understand the fundamental accounting equation. You need a professional accountant – not ...

When companies purchase supplies on account, they have to create several journal entries to record the transaction in their financial statements. These entries change the balance of the fundamental ...

Business leaders of many privately owned companies often face an overwhelming volume of accounting and financial data. This flood of information can obscure a clear understanding of their organization ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, ...