The whole point of being in business is to make money, which makes the incom statement one of the most important financial statements. An income statement can be in either a single or multi-step ...

The difference between income and expenses is simple: income is the money your business takes in and expenses are what it spends money on. Your net income is generally your revenue, or all the money ...

Each year, generally in March or April, commercial tenants with pass-through costs included in their lease agreements, receive from the property owners the Annual Operating Expense Reconciliation ...

J.B. Maverick is an active trader, commodity futures broker, and stock market analyst 17+ years of experience, in addition to 10+ years of experience as a finance writer and book editor. Suzanne is a ...

Income tax expense is a critical component of a company’s financial statements, reflecting the taxes a business owes based on its taxable income for a specific period. It represents the total amount ...

Depreciation spreads the cost of tangible assets over their useful life on income statements. Each year, $1,500 is recorded as a depreciation expense, reducing the asset's book value. Amortization and ...

John Parker is a business writer with 20+ years of experience as a business executive specializing in accounting and finance. Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society ...

Every company produces three important financial reporting documents when the fiscal period comes to a close: the balance sheet, cash flow statement, and the profit and loss statement. Among these, ...