article thumbnail

Accounting Basics for Small Business Owners [By a CPA]

LyfeAccounting

And you don’t have time to do anything – sales, customer service, delivering the cleaning services, and so on. Revenue is also commonly referred to as Sales. In many cases, you can apply ratios to certain pieces of your financial statements to interpret what’s really happening in your business. Quick Recap.

article thumbnail

Top 10 Common Accounting Interview Questions with Answers

Simple Accounts

Also, the lessons learned in accounting and finance subjects are highly relatable to daily life too. . How do you define accounting in your words and what are the different types of accounting? . Different types of accounting are: Financial accounting, Cost accounting, Management accounting .

Account 52