This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. In financial accounting — one of the most common types ...

A manufacturing company makes physical products from parts and materials. The income statement is one of the most important financial statements this type of firm prepares. This statement comes in ...

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

Accounting rules break leases into two classes. When you lease equipment or a building for a relatively short term, you have an operating lease, AccountingTools explains. If you lease long-term or in ...

Discover the differences, advantages, and drawbacks of single-step vs. multiple-step income statements for better financial ...

Amortization and depreciation are non-cash expenses on a company's income statement. Depreciation represents the cost of capital assets on the balance sheet being used over time, and amortization is ...

Learn about accounting interpretations, why they matter, and how they clarify standards, prevent errors, and provide consistency in financial reporting.

The Financial Accounting Standards Board released an accounting standards update Monday to improve financial reporting by requiring public companies to disclose, in their interim and annual reporting ...

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 ...