Join us:

Revenue and Expense

October 12, 2020 / Comments Off

Companies have a great incentive to maximize their profits, and boost their earnings. To do that, they should generate more revenues and lower their expenditures. In this article we will spot the light on all matters related to revenues and expenses. First of all, we will explain revenues and expenses and give a lot of [...] Read More

What is a Balance Sheet?

September 19, 2020 / Comments Off

A Balance Sheet is a financial statement that shows the company's financial position at a specific point of time. It shows what a company owns, how much it owes as well as the amount invested by the shareholders. The Balance Sheet is a snapshot of the company's financial situation at a particular point of time. [...] Read More

p&l profit and loss statement

September 15, 2020 / Comments Off

Income statementThe income statement or profit and loss account is one of the most important financial reports in the organization. It shows the company's net profit or net loss. Unlike the balance sheet which is prepared on a particular day, the income statement is about a given period of time usually a fiscal quarter or [...] Read More

Functions of Financial Accounting

September 13, 2020 / Comments Off

Functions of Financial Accounting The function of Financial Accounting is the process of preparing company's financial statements to show its financial position to customers, suppliers, creditors and investors. Unlike financial Accounting, General '' Management'' Accounting is designed for managers to help them make company's future plans and decisions. Financial Accounting is an administrative tool to [...] Read More