The difference between income and expenses is simple: income is the money your business takes in and expenses are what it spends money on. Your net income is generally your revenue, or all the money ...

Financial statements are essentially the report cards for businesses. They tell the story, in numbers, about the financial health of the business. The information found on the financial statements of ...

Ending your fiscal year with a net loss can be tough to deal with. The accounting, though, isn't any more complicated than ending on a net gain. The process of creating and then closing an Income ...

A vertical analysis is used to show the relative sizes of the different accounts on a financial statement. For example, when a vertical analysis is done on an income statement, it will show the top ...

A balance sheet displays what a company owns, what it owes, how it's financed, and its shareholders' equity at a particular point in time. An income statement displays the company's revenues and ...