There are several financial statements produced by businesses to indicate their financial health: the income statement, balance sheet, and cash flow statement. A cash flow statement reflects the actual amount of cash a business has on hand, helping to assess the...
AI. It’s constantly in the headlines, generating buzz on a daily basis as more and more companies embrace this technology and leverage it to meet the needs of their customers. But beyond the usual buzzwords and lofty theories about the future of technology, how can AI...
A cash flow statement is one of the primary resources used to assess a business’s financial performance, and you can prepare it using either the direct method or the indirect method. Because the indirect method utilizes existing financial documentation, it is...
What’s the most frustrating part of running a small business? For many small business owners, taxes and accounting are right at the top of that list. They tend to feel so complex that many small business owners are resigned to getting them wrong (and potentially...
As a business owner, you’ve probably heard about the terms income statement, profit and loss statement, or P&L. And you might have been perplexed by these terms and wondered what exactly they mean. Good news: They all refer to the same thing—the financial...
There are more than a few ways to make a business purchase, whether you’re buying office supplies, inviting a client for coffee or paying for gas during a business trip. Instead of carrying cash that can be lost or stolen and having to save receipts (and deal with...
