Category: Generally Accepted Accounting Principles (GAAP)

  • Using Your Financial Statements During an Economic Crisis

    Using Your Financial Statements During an Economic Crisis

    The economic fallout from the coronavirus (COVID-19) pandemic has forced business owners to reevaluate their operations and make difficult decisions. One place to look for the information you need to make rational, reasonable moves is your financial statements. Under U.S. Generally Accepted Accounting Principles, these typically comprise a statement of cash flows, a balance sheet…

  • Buy vs. Lease: Business Equipment Edition

    Buy vs. Lease: Business Equipment Edition

    Life presents us with many choices: paper or plastic, chocolate or vanilla, regular or decaf. For businesses, a common conundrum is buy or lease. You’ve probably faced this decision when considering office space or a location for your company’s production facilities. But the buy vs. lease quandary also comes into play with equipment. Pride of…