income statement accounts

Financial Accounting Meaning, Principles, and Why It Matters

Financial Accounting Meaning, Principles, and Why It Matters   What Is Financial Accounting? Financial accounting is a specific branch of accounting involving a process of recording, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time. These transactions are summarized in the preparation of financial statements—including the balance sheet, […]

Financial Accounting Meaning, Principles, and Why It Matters Read More »

Income Statement: How to Read and Use It

Income Statement: How to Read and Use It What you need to know about this essential financial statement What Is an Income Statement? An income statement is one of the three important financial statements used for reporting a company’s financial performance over a specific accounting period. The other two key statements are the balance sheet and the cash flow statement. The income

Income Statement: How to Read and Use It Read More »

Scroll to Top