Most entrepreneurs start organizations because they are passionate about the primary work of the business — which usually isn’t accounting. This means that most entrepreneurs aren’t completely ...

Every business has an accountant who prepares financial statements on a regular basis. Management, creditors and stockholders use these statements to gauge the performance of the company and make ...

J.B. Maverick is an active trader, commodity futures broker, and stock market analyst 17+ years of experience, in addition to 10+ years of experience as a finance writer and book editor. Amy is an ACA ...

Accumulate all expense and revenue records throughout the month and turn them into a profit-and-loss statement, also called a financial statement or a statement of earnings. Gather carrier settlement ...

Opinions expressed by Entrepreneur contributors are their own. Income statements are fundamental financial documents that track a business’s revenue, expenses, and profit over a specific period.