As a startup, there have been a lot of things to learn. For many businesses, the accounting and bookkeeping part of the business is the hardest to grasp. Between debits, credit, balance sheets, ...

There are several ways to examine how profitable a company is by using its income statement and accounting balance sheet. Most of the time, the number itself may not mean a lot unless it is compared ...

Discover where retained earnings appear in financial statements, and understand their impact on business reinvestment and ...

Retained earnings are the cumulative profits that a company has kept to reinvest in its business. Some earnings are distributed to shareholders as dividends. The remainder is considered retained ...

Closing entries transfer revenue and expense balances to the retained earnings account. This process resets the temporary account balances to zero for the new accounting period. Recording closing ...