Accounting & Finance Guide

Master the language of business with our essential accounting and finance guide. We break down core concepts, from the balance sheet to revenue metrics, helping you read financial statements with confidence and make smarter business decisions.

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Author: Staff Writer
Last update: 05/29/2025
Reviewed:
Jordan Rath
Jordan Rath

Jordan Rath is a professional finance writer at Eboost Partners with over seven years of experience in the commercial lending industry. A graduate of the University of Florida’s Warrington College of Business with a degree in Finance, he specializes in breaking down complex business lending topics to help entrepreneurs make smart, informed decisions.

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Core Accounting Concepts

This section covers the foundational principles of business accounting. Understand the core accounting equation that governs all financial reporting and learn the purpose of key documents like the expense report.

Assets, Liabilities, and Equity – A breakdown of the three core components of the balance sheet and the accounting equation.
What Is an Expense Report? – Learn how businesses track and manage employee-related expenses.

Start with the Basics: Assets, Liabilities & Equity

Key Comparisons & Metrics

Financial language is full of terms that seem similar but have crucial differences. This section provides clear, side-by-side comparisons of the most important metrics and statements to enhance your financial literacy.

FIFO vs. LIFO – Understand the two main methods for inventory accounting and how they impact your finances.
Balance Sheet vs. Income Statement – A clear comparison of the two most important financial statements.
Net Revenue vs. Gross Revenue – Understand the difference between total sales and the revenue you actually keep.
Net Revenue vs. Net Income – Clarify the distinction between revenue and final profit.
Top-Line vs. Bottom-Line – A guide to the two most important measures of a company’s performance.

Start with the Basics: Assets, Liabilities & Equity

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