The Financial Accounting Standards Board (FASB) introduced a new accounting standard (ASU 2016-02) that requires companies to recognize operating lease assets and liabilities on the balance sheet. My ...

Every entrepreneur is in business to do something -- sell shoes, paint houses, make signs or give legal advice, for example. Operating activities is simply the accounting term used to describe your ...

Last September, the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) released the "Lease Accounting Exposure Draft," which is a joint public statement ...

A balance sheet is a summary of your financial picture on a particular date. It shows how much you own and how much you owe, and whether these assets are distributed in ways that make them easily ...

Running a business is about more than selling goods or services. Business operations depend on a host of support—from the facilities the business occupies to the employees who keep it running. These ...

Knowing which expenses your LLC can deduct is fundamental to maintaining healthy business finances. Every legitimate business expense you properly document and deduct reduces your taxable income, ...