Ask the Experts
Your accounting, tax, and business finance questions answered.
How Should I Evaluate My Year-End Spend?
Your business has had a strong year, and you’ve turned a profit. The end of…
What Is Cash Runway?
Cash runway and burn rate go hand-in-hand. In fact, your burn rate is required to calculate your…
What Does Burn Rate Mean?
Burn rate is a measure of how long your company can operate until it runs…
What Are Assets, Liabilities, and Equity?
Assets, liability, and equity are the three components of a balance sheet. In order for the…
What Does It Mean to "Close the Books"?
Even though accounting has mostly gone digital, the term “closing the books” continues to stick…
What Is GAAP?
GAAP stands for Generally Accepted Accounting Principles. Within the United States, it provides a set…
What Is the Difference Between an Invoice and a Receipt?
Receipts and invoices each play a role in documenting sales for a business’ accounting records.…
What Is an Operating Expense?
Operating expenses have to do with the day-to-day activities of your business. Unlike Cost of…
What Is The Purpose of an Income Statement?
The income statement is a results-oriented report, showing the net income or loss over a…
