The Statement of Cash Flows is one of the major financial statements. The focus of the Statement of Cash Flows is on the movement of cash through the business. It breaks cash into three...
Category: Accounting Basics
A service business is one that performs tasks or activities to its customers. The service is not a physical product. Customers exchange money for the benefit they receive from the service. Service...
A merchandising business is one that purchases goods or products and sells them to its customers. A merchandising business acts as a market bringing together products and customers. A merchandising...
A manufacturing business is one that purchases raw materials and transforms the materials into products it then sells to its customers. A manufacturing business combines materials with labor and...
A Fixed Asset is an asset purchased or manufactured by a business with the intent to use the asset for a longer period of time. The purpose of Fixed Asset is to produce income (revenue) for the...
An Income Statement is one of the major financial statements. It is also called a Profit and Loss Statement or a P&L. It shows the relationship between revenue (what a company makes for income)...