Every business owner needs to have at least a rudimentary understanding of accounting theories and principles. Understanding your books and what various accounting reports represent helps you ...

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.

Bruns, William J., Jr. "Diversity in Accounting Principles: A Problem, a Strategic Imperative, or a Strategic Opportunity?" Harvard Business School Background Note 193-045, October 1992. (Revised May ...

Financial accounting is a specific type of accounting that uses standardized processes and guidelines for businesses to record their financial transactions and prepare financial statements for ...