2 posts tagged with accounting by edjusted.
Displaying 1 through 2 of 2.
In a modern accounting system that uses double-entry accounting, I believe each line on an Income Statement reflects one or more GL account period *totals*, correct? Does that also apply to Purchases/Cost Of Goods Sold? [more inside]
I'm helping a friend go over some financials of a small business . I have a *little* accounting training but am definitely not in accounting. My question is about indirect Cash Flow Statements. In the attempt to understand Cash Flow Statements enough to help, I'm running into a roadblock about Net Income and my understanding of how it's applied to the Cash Flow Statement. [more inside]