Accounts receivable is one of the most important financial accounts that small businesses keep track of. This is because the receivable account reflects the balance of all money owed to the business ...

If you overstate your company's assets, you may be breaking the law. Since 2008, federal rules say you have to value assets at the probable price they'd fetch when sold. In 2012, KCAP Financial paid ...

Income statements detail revenue, expenses, and net income from top to bottom. Reading starts with revenue, deducts expenses, and ends with net income. Subtotal figures help identify missing account ...

Contra accounts adjust asset values, like equipment depreciation reducing fixed assets. Increased allowance for doubtful accounts may signal rising uncollectable receivables. Companies use contra ...