Recent posts on Beginners guide to financial statements

Cost of goods sold is shown in the income statement of a company which is into manufacturing, wholesaling, retailing and into similar kind of business. Cost of goods

A company’s balance sheet has three major sections, assets, liabilities and stockholders’ equity. Liability represents the total debt of the company and owner’s capital represents shareholders’ ownership. Liabilities

Accounts payable is the amount that the company owes to its creditors or outsiders from whom it has brought goods or services. Total amount of accounts payable as

On the balance sheet you have three major components, assets, liabilities and owner’s equity. In this article, we will understand the term asset and its components. An asset

Asset held with the intention of being used for the purpose of producing goods or providing services and is not held for sale in the normal course of

Accounts receivable for a company means the total money that is due from customers to which it sold goods or services on credit If a company has sold

Financial accounting is a major source of information for success of business. Most important aspect of financial accounting system is referred to as recognition, it’s the decision about