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 ...

The double-entry system protects your small business against costly accounting errors. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you ...

We are a team of writers, experimenters and researchers providing you with the best advice with zero bias or partiality. Proper bookkeeping is an unavoidable task when running a small business, but ...

A financial statement that lists the assets, liabilities and equity of a company at a specific point in time and is used to calculate the net worth of a business. A basic tenet of double-entry ...

A company's income statement shows the sales, expenses and profits for an accounting period. The balance sheet tracks assets, liabilities and owners' equity. In the double-entry system of accounting, ...

Julia is a writer in New York and started covering tech and business during the pandemic. She also covers books and the publishing industry. With over a decade of editorial experience, Rob Watts ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Edward Kellman, CEO and chief design engineer of Trakker Apps, holds two U.S. patents for an innovative take on double-entry accounting. Processing Content The system, known as the Double-Entry ...

Although no one knows when double-entry accounting first emerged, but Italian mathematician and Franciscan friar Luca Pacioli wrote the first codified system describing the technique in the late 1400s ...