Jeff is a writer, founder, and small business expert that focuses on educating founders on the ins and outs of running their business. From answering your legal questions to providing the right ...

A business incurs expenses when producing its revenues. Revenues minus expenses equal the business's net income, or the change in its financial circumstances from running its operations for the time ...

Determining the value of inventory is an important part of accounting. In order to calculate the profit on a sale, a cost must be assigned to the item sold. A business that is selling large amounts of ...