Assets, liabilities, owner's equity, revenue and expenses -- the five main elements of accounting -- each affect a financial statement differently. How each element affects a financial statement, ...

Payroll accounting can be quite a challenge for the new businessowner. There are many federal and state laws regulating what youhave to track related to payroll. Failure to do so could result inheavy ...

It may seem belated, but the Governmental Accounting Standards Board has just recently gotten around to defining such fundamental accounting concepts as "asset" and "liability."It has also defined a ...

One of the most critical elements of operating a successful bakery is an accurate accounting system. When you're setting up your system, one of the first questions you need to answer is which ...