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Working Capital & Liabilities

by | Mar 1, 2022 | Small Biz Accounting

Working capital is the difference between a company’s current assets and its current liabilities.  Current assets include cash, inventory, receivables, and other assets which are expected to be turned into cash within one (1) year. Current liabilities include accounts...

Cash Flow Statement

by | Sep 1, 2021 | Small Biz Accounting

Money is essential to any business. Many decisions a business makes often includes the topic of money and funding. Whether a business wants to expand and hire more personnel, or it wants to develop a new product, money is involved. With money flowing quickly in and...

Income Statement

by | Jan 11, 2021 | Small Biz Accounting

Understanding the Income Statement The income statement is one of the basic financial statements that disclose the financial performance of a company. Profit and loss statement (P&L), statement of income, and statement of earnings are other names for the income...

Accrual Accounting Vs. Cash

by | Nov 2, 2020 | Small Biz Accounting

Cash vs Accrual Accounting You have finally taken the leap and started the business you have always dreamt about. However, now you must make one more tough decision: what accounting method should your business follow: cash or accrual accounting? Accounting methods are...

Income Statement: The Importance

by | May 1, 2019 | Small Biz Accounting

The Importance of the Income Statement There are four basic financial statements: Balance Sheet, Cash Flow Statement, Income Statement and Statement of Retained Earnings. External users such as investors, creditors, etc. use these statements to gain insight into the...