There are a variety of ways to think about business costs. Marginal costing income statements are more useful for analyzing inventory and production costs, while absorption costing is required under ...

Companies prepare an income summary and an income statement at the end of an accounting period. While an income summary is a clearing account used to close income-statement accounts at the end of a ...

Explore OCBOA, a flexible non-GAAP accounting framework that includes tax-basis, cash-basis, and statutory accounting, offering an easier, cost-effective alternative for financial statements.

IN CERTAIN INSTANCES CPAs SHOULD CONSIDER preparing and reporting on financial statements using an “other comprehensive basis of accounting” (OCBOA). Tax-basis and cash-basis, including ...

Here's how to show changes in retained earnings from the beginning to the end of a specific financial period. Many, or all, of the products featured on this page are from our advertising partners who ...

The accounting cycle tracks a transaction until it's added to your company's financial statement. Follow this eight-step process to organize the data.

While you can use pen and paper for bookkeeping, it’s not recommended and you’ll save yourself a lot of time by properly setting up a bookkeeping system. As with any software, you can choose between ...

Create and customize an income statement to fit your business's needs, then save, print or send. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

Navigating the path to becoming a publicly traded company is a significant milestone for any organization. As a micro-cap IPO advisor and investor, I’ve witnessed how the success of this transition ...

Discover key differences in income statements for merchandising and service companies, including inventory, cost of goods sold (COGS), and revenue variations.