Recording, summarizing and reporting are the three major parts of financial accounting. All of these apply to financial accounting, a very in-depth topic! Explore this section for help providing information about a firm’s performance, keeping track of transactions, and more.
Decisions are tough. Luckily, management accounting really helps solve the decision part! Explore this section for help analyzing and interpreting business information, designing goals, communicating with management, and more.
Managing income and expenses can be incredibly difficult, with jobs and side-jobs competing directly with groceries and cellular service, for example. Budgeting is the solution, a way to help cut unnecessary costs and create profit.
We all know everything comes at a price, right? Costing is designed to assign costs to every part of a business, giving everything a value and a cost. Explore this section for information on placing costs on customers, employees, products, line and more!
Operations, investment, and financing are all different types of cash flow. With so many different types, it can be quite difficult to compare and analyze flows. Explore this section for explanations of free cash flow, financial health, and movement of cash.
Financial statements are snapshots into a business’ life and can provide all sorts of information about a business. Finances, managerial systems and even risks are all present in a statement, creating a very in-depth look into a company.
Business activities and balance sheets make up a large portion of financial statements, a snapshot in a business’ life. There are tons of information to learn about a company through their statements. Explore this section
Profit means net income, or positive gains after subtracting expenses from income. Losses are when expenses outweigh the income. Retained earnings is the money left after dividends and such are paid out to investors.
Raw materials, parts, labor, supplies, utilities, shipping, delivery and more all fall under cost of goods sold. While many people do not think extremely far past the initial price of a product, there’s tons more beneath the surface!
Ownership of assets is an incredible way to make long term profits, although assets almost always have liabilities. Equity is an asset with its liabilities’ values subtracted, often coming in the form of stock.
