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Wayne Label Articles

Written by: Wayne Label

Exploring the Ins and Outs of Double Entry Accounting - Click To Read Article
Leave intimidation behind by understanding how debits, credits, general journals and general ledgers work. Learn how to post an entry, record adjusting and closing entries and prepare a trial balance. These simple and important aspects of double entry accounting will give you more confidence when dealing with the financial aspects of your business.

Defining and Understanding the Corporation and Its Accounting - Click To Read Article
Understanding the structure changes and advantages of converting your proprietorship to a corporation is an important step. That knowledge will help you to make the best choices. Find out how your liability, business ownership and remuneration can change once you’ve become a corporation. Take your business to the nest level.

The Importance of Cash Flow - Click To Read Article
What is the cash flow statement and why is it required by GAAP? This article will give you an idea behind the cash flow statement and the basic principals used to create it. It will show the difference between the accrual and the cash methods of accounting for business transactions. Importance of cash flow

Understanding the Income Statement - Click To Read Article
Income statement can be viewed as a summary and final evaluation of company’s business activities for the past fiscal year. We will discuss the components of an income statement, their classifications and the ways it is connected to the other financial statements. After reading this article you will have a basic understanding of accounting principles behind the statement of earnings.

Understanding the Balance Sheet - Click To Read Article
This article will give you a basic idea about the balance sheet. What is balance sheet, what are the components that make up a balance sheet? How do accountants classify it and what are the transactions that have an effect on it? You will learn the basic balance sheet equation which is true for a small business and multinational corporation.

An Accounting Overview for Non-Accountants - Click To Read Article
Whether you are a small business owner or a CEO of a multinational corporation, at the end of the month, quarter or a fiscal year, you have dealt with accounting records and financial statements. This article is for non-accountants, who try to understand what is accounting all about and how one can use it to make better business decisions.

US and International Financial Regulations - Click To Read Article
In this article we will look at accounting standards; discuss original purpose of their creation and consider the future of the financial regulation in general. We will get familiar with some of the major concepts of US financial accounting and its integration process into the global system of rules.





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