Plain-text accounting insights, tutorials, and updates from the Beancount.io team.
Learn the difference between gross profit and net profit, how to calculate each with real examples, what good margins look like by industry, and practical strategies to improve both. Includes formulas, an income statement walkthrough, and common mistakes to avoid.
Learn what goodwill is in accounting, how to calculate it during a business acquisition, where it appears on the balance sheet, how impairment testing works, and why it matters for business owners buying or selling a company.
Learn what goodwill is in accounting, how to calculate it when acquiring a business, how impairment testing works under ASC 350, the difference between public and private company rules, and common mistakes to avoid.
Learn what GAAP (Generally Accepted Accounting Principles) is, the 10 core principles, who must follow GAAP, how it differs from IFRS, and why it matters for your small business financial reporting.
Learn what forensic accounting is, when your business needs it, how forensic accountants investigate fraud, common red flags for embezzlement, and proactive steps to protect your small business from financial fraud.
Learn how to handle foreign currency accounting for your small business, including exchange rate rules, recording FX gains and losses, hedging strategies, and setting up multi-currency bookkeeping under GAAP.
Fixed costs stay the same regardless of sales; variable costs change with output. See examples, break-even analysis, and pricing tips.
Learn the essential financial literacy skills every small business owner needs, from reading financial statements and managing cash flow to budgeting, tax planning, and avoiding the most common financial mistakes that cost businesses thousands.
Learn how to build accurate financial forecasts for your small business. This practical guide covers forecasting methods, pro forma statements, scenario analysis, common mistakes, and step-by-step instructions to predict cash flow and plan for growth.
US FIFO inventory: calculate COGS and ending inventory, compare FIFO vs LIFO, and know when IRS rules favor each method.
Learn what FASB (Financial Accounting Standards Board) is, how it sets U.S. accounting standards (GAAP), its standard-setting process, key standards like ASC 606 and ASC 842, and why it matters for small and private businesses.
US expense reports document out-of-pocket business costs for reimbursement and IRS records — templates and steps to create one.
