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 ...

Direct materials are the supplies you use to manufacture your inventory: wood for cabinets, steel for girders or wool for coats. Accountants distinguish direct materials from indirect materials, which ...