Reviewed by Andy Smith Fact checked by Vikki Velasquez Financial Accounting: An Overview Financial accounting is the process ...

Although the basics of an income statement are the same from business to business, there are notable differences between services, merchandisers, and manufacturers when it comes to the accounting ...

Financial statements are essentially the report cards for businesses. They tell the story, in numbers, about the financial health of the business. The information found on the financial statements ...

Reviewed by Somer Anderson Fact checked by Suzanne Kvilhaug Other comprehensive income (OCI) is a term used in business ...

This is the final part of the profit and loss account. If the net profit figure is negative, the business has made a loss.

Interest expense is a general term used to describe the cost of borrowing money. It can have slightly different meanings depending on the context, but in corporate finance, interest expense is ...