Notes payable is accounting-speak for promissory notes, written commitments that say you've borrowed money and have to pay it back. Like other outstanding debts, notes payable affect your bottom line.

Financial data are most often recorded using a technique called double-entry accounting. This method relies upon a mathematical construct called the accounting equation. Any time an adjustment is made ...

Discover how accruals affect company finances, with insights into the accrual accounting method, its applications, and examples illustrating its principles.