Online Exclusive: Accounting Basics for Small Contractors — The Balance Sheet Assets = Liabilities + Owners’ Equity Assets are the things that a company owns. There are current assets and long-term ...

To better advise their clients, in-house counsel should understand key accounting principles and steps in the accounting cycle, including journal entries, the general ledger, trial balances ...

Accounting 101 Basics. Basic accounting provides information to identify and classify financial transactions. Business owners often need basic accounting skills to manage their company's financial ...

Balance Sheet Formats Standard accounting conventions present the balance sheet in one of two formats: the account form (horizontal presentation) and the report form (vertical presentation).

Accounting is the process of keeping track of all financial transactions within a business, such as any money coming in and money going out. It’s not only important for businesses in terms of ...

Accounting is the practice of tracking your business's financial data and interpreting it into valuable insights. This allows you to generate crucial financial statements, such as a balance sheet ...

The whole point of accounting is to present a precise financial picture of your business operations. By the accepted standards of the industry, financial accounting consists of five basic elements ...

The expanded accounting equation builds upon the basic accounting equation's use of assets, liabilities and equity by incorporating additional components such as revenues, expenses and withdrawals.

Here's a list of useful accounting concepts. After reading through these basic accounting terms, you’ll have a better understanding of the money world.

In this installment of Accounting Basics for Small Contractors, we’ll look at specific KPIs (Key Performance Indicators) (aka benchmarks) that contractors should be monitoring.