Tag Archive | "Profit And Loss Statement"

Basic Accounting – General Ledger

Friday, July 31, 2009

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The general ledger is the core of your company’s financial records. These constitute the central “books” of your system, and every transaction flows through the general ledger. These records remain as a permanent track of the history of all financial transactions since day one of the life of your company. Subledgers and the General Ledger Your accounting [...]

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Basic Accounting – Income Statements

Monday, July 20, 2009

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Income Statements An income statement, otherwise known as a profit and loss statement, is a summary of a company’s profit or loss during any one given period of time, such as a month, three months, or one year. The income statement records all revenues for a business during this given period, as well as the operating [...]

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