Accounting for Cash Purchases on an Income Statement

Discover how cash purchases impact a company's income statement and where to find detailed records in financial reports.

How Financial Statements Connect: Income, Balance Sheet & Cash Flow

Discover the synergy between income statements, balance sheets, and cash flow statements for a full analysis of a company's financial health and performance.
Forbes

5 Things You Should Know About The IRS BBA Partnership Audit Rules

Partnerships are an enigma under federal tax law. Although the partnership files an annual income tax return (i.e., Form 1065), the partners report their allocable share of the partnership’s tax items ...
Entrepreneur

Using Income Statements — These 6 Numbers Will Tell You If Your Business Is on Track

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) ...