Understanding these concepts can help you make smarter financial decisions in the long run and day to day. Many, or all, of the products featured on this page are from our advertising partners who ...

Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software.

Discover what accounting changes are, how they affect financial statements, and why full disclosure is essential for ...

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

Basic accounting principles form guidelines that govern the preparation of financial reports. These guidelines provide a comprehensive framework for classifying, recording, presenting and interpreting ...

Accounting is the process of keeping track of all financial transactions within a business, such as any money coming in and money going out. It’s not only important for businesses in terms of record ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Financial accounting is a specific type of accounting that uses standardized processes and guidelines for businesses to record their financial transactions and prepare financial statements for ...

If you run a small business, you may not know much about the Generally Accepted Accounting Principles (GAAP). After all, GAAP standards apply mainly to publicly traded companies, so these rules don’t ...

Environmental accounting is the practice of using traditional accounting and finance principles to calculate the costs that business decisions will have on the environment. For example, before ...