This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. In financial accounting — one of the most common types ...

You don’t need to be a CPA to understand your company’s financial health. You just need to know where to look. That starts with the income statement—also known as the profit and loss (P&L) ...

A balance sheet provides a snapshot of a company's assets, liabilities and equity at a specific point in time, while an income statement summarizes its revenues and expenses over a period to show ...

A manufacturing company makes physical products from parts and materials. The income statement is one of the most important financial statements this type of firm prepares. This statement comes in ...

A company's income statement shows the revenues, expenses and profits or losses for an accounting period. The two income statement formats are single-step and multi-step. Companies that sell tangible ...

You can find information about a company's debt and how much interest it pays to service its debt, but the actual interest rate it pays is generally not included in its financial statements. And while ...

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. Katrina Ávila Munichiello is an experienced editor, ...