It includes revenues (such as homeowner dues and fees) and expenses (such as maintenance costs and management fees). The difference between total revenues and total expenses indicates the net income or loss for the period. In a cash accounting situation, income and expenses are only recorded when the money actually shows up in or has [...]

This type of partnership can help you save money on shipping and storage costs, and it can also help you get your products to your customers faster. I still love my clunky, manual, self-designed spreadsheets for tracking my small business finances, and maybe you do, too. But this year, I'm going to think seriously about [...]

On the other hand, International Financial Reporting Standards (IFRS) is a set of accounting standards stating how particular types of transactions and other events should be reported in financial statements. IFRS are issued by the International Accounting Standards Board (IASB).[2] With IFRS becoming more widespread on the international scene, consistency in financial reporting has become [...]