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4 resources from accountingcoach.com we point founders to, and the questions each answers.

📄 Article
✓ Link checked Free Beginner

A free tutorial by a CPA that walks through the income statement line by line, including the accrual rule: income when earned, expenses when incurred.

Income Statement (explanation)

From accountingcoach.com by AccountingCoach Tutorial

  • Record revenue when earned and expenses when incurred, not when cash moves.
  • Separate operating from non-operating items.
  • A profit on the P&L is not the same as cash in the bank.
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Answers How do I make a profit and loss statement for my business?
📄 Article
✓ Link checked Free Beginner

A CPA's step-by-step tutorial on fixed and variable expenses, contribution margin, and the break-even point in units and in sales.

Break-even Point (explanation)

From accountingcoach.com by AccountingCoach Tutorial

  • Fixed expenses do not change with sales; variable expenses do.
  • Contribution margin is price minus variable cost.
  • Add your desired profit to fixed costs to find the sales you need for it.
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Answers How do I price my very first product when I have no idea what to charge? How do I calculate my break-even point?
📄 Article
✓ Link checked Free Beginner

A thorough plain-English course on the balance sheet: current and long-term assets and liabilities, equity, and how it connects to the income statement, with sample balance sheets.

Balance Sheet (Explanation)

From accountingcoach.com by Harold Averkamp, AccountingCoach 30 min read

  • Assets = liabilities + owner's equity, kept in balance by double-entry bookkeeping.
  • Current items are those expected to turn into cash, or be paid, within a year.
  • The balance sheet and income statement are linked through retained earnings.
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Answers How do I read a P&L, balance sheet, and cash flow statement?
📄 Article
✓ Link checked Free Beginner

A free, patient course on double-entry bookkeeping: accounts, debits and credits, the general ledger and how transactions roll up into financial statements.

Bookkeeping (Explanation)

From accountingcoach.com by Harold Averkamp, AccountingCoach 30 min read

  • Every transaction touches at least two accounts.
  • The general ledger is where all accounts and their balances live.
  • Reconcile with the bank statement so the books match reality.
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Answers How do I do bookkeeping for a small business, in Excel or Tally?
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