Becoming a Certified Public Accountant is a challenge. You will have to endure 150 hours of education and undergo a grueling exam. After that, you will have to continue your education to stay up to date on the information you need for your license. While contemplating this workload you may […]
Accounting
Components of the Cash Flow Statement and Example
In accounting, the balance sheet is a snapshot on a company’s finances at a fixed time; accordingly, the cash flow statement reflects the changes in company’s finance over a considerably longer time. The statement reflects both the cash inflow and the cash outflow for a specific period of time. The […]
What Is The Income Statement And Examples
Compared with the balance sheet reflecting the activity of a company at some point, the income statement shows the company’s financial situation over a long period of time. In other words, the income statement deals with the company’s revenues and expenses, presenting a summary of its financial activities from 3, […]
Types of Fixed Assets
Also called “tangible assets”, the fixed assets are used for the business operation, having a price higher than a predetermined threshold dollar amount when purchased and supposed to last at least one year. One of the generally accepted accounting principles-materiality-speaks about the importance of an accounting event concerning the financial […]
What is a Balance Sheet
The Balance Sheet depicts the financial situation of a company, measuring how healthy and profitable the company actually is. At the end of the accounting period (year, quarter, month), the balance sheet lists the company’s assets and the liabilities it owes. In other words, the balance sheet is about: – […]