Category: Accounting Lessons

Understanding Financial Statements

Lesson 5 in the Basic Accounting series: Understanding financial statements is one of the keys to your small business success. Sadly, many entrepreneurs fail not because they lack knowledge of their products and determination… but, because they failed to realize the importance of preparing and analyzing their financial statements. Analyzing and Understanding Financial Statements: Financial […]

Financial Ratio Analysis

Lesson 6 in the Basic Accounting series: Financial ratios and performing a financial analysis using your financial statements can be a valuable tool in constructing a successful small business. Financ

How to Figure Your Break-Even Point

Lesson 7 in the Basic Accounting series: Your small business’s break-even point is the point where the total amount of revenue received equals your total costs associated with the sale of your pro

Learn Cost Accounting Basics the Easy Way

Lesson 8 in the Basic Accounting series: Cost accounting basics is all about learning how to use different accounting methods to determine the cost of producing your product and then how to use that information to make a profit. That is why cost accounting is often referred to as cost management accounting. As a small business owner […]

Accounts Receivables Accounting

Lesson 9 in the Basic Accounting series Accounts Receivables (AR) are sales made by your small business, but not paid for yet by customers. They are usually in the form of invoices generated by your

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