When it comes to understanding a company’s financial health, the income statement is one of the most critical tools at your ...

Accrued interest is recorded as an expense or as revenue on the income statement, depending on whether the interest is being paid or received. Accrued expenses are a type of accrued liability and ...

the income statement illustrates just how much income your company makes or loses during the year by subtracting cost of goods and expenses from total revenue to arrive at a net result ...

interest expense is generally the primary financing expense on a company's income statement. Here we look at interest expense in the context of evaluating a company's profitability, as well as its ...

This is an important financial statement that will show all income earned (or expected to be earned) within a certain time period, minus any recurring, monthly expenses. Note: Crucial expenses ...

divide your net income into three categories: 50% for needs, including minimum payments on debt; 30% for wants; and 20% for savings and debt paydown beyond minimums. Sorting your expenses into ...