When can a company recognize revenue? This question is often confusing for owners and managers of small to medium size businesses. Revenue recognition differs depending on the nature of your business and whether you are […]
Read MoreCost of Sales vs. Operating Expenses
Companies incur and record costs in running the day-to-day operations of the business. These costs are separated into two categories—Cost of Sales and Operating Expenses. Cost of sales may also be called cost of services […]
Read MoreWhere do the financial statements come from?
Most people know from their own experience that finance is considered a difficult and confusing subject, especially for those who do not work with it every day. Few people know that the first balance sheet […]
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