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 ...

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

Understanding cash flow statements is important because they measure whether a company generates enough cash to meet its operating expenses.

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 ...