Accounting for a letter of credit on your balance sheet depends on when you use it. One issued by your financial institution acts as a credit substitute. That institution, often a bank, steps into ...

As a business owner, keeping an eye on your bank balance is one of the most essential things you will do. After all, it can determine how much you can spend on new equipment, staff, marketing, and ...

Few companies thrive and grow without some kind of outside financing. Acquiring assets, launching projects, expanding into new locations or business sectors -- these all take capital, and lots of it.

A balance sheet is a type of financial statement that lists a company's assets, liabilities, and shareholders' equity. The assets should be in "balance" and equal the total liabilities and ...

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. As the name implies, a balance sheet should reveal ...

Reconciling your bank transactions to your business book is essential to the financial health of your company. However, if you’ve never reconciled your company’s transactions before, the process can ...