Business owners know that inventory losses occur. Damage, spoilage, theft, obsolescence, defects and a number of other problems can crop up at any time. If you use cash accounting, you write down the ...

Unless you're first starting your business, you'll almost always start an accounting period with inventory that you purchased during a preceding period. And unless you're liquidating your company, you ...

Amanda Bellucco-Chatham is an editor, writer, and fact-checker with years of experience researching personal finance topics. Specialties include general financial planning, career development, lending ...

The expanded accounting equation builds upon the basic accounting equation's use of assets, liabilities and equity by incorporating additional components such as revenues, expenses and withdrawals.