A balance sheet is a company's financial big picture for a particular moment in time. Every financial decision a business makes will eventually land on the balance sheet but understanding how the ...

A balance sheet is a financial statement that provides a snapshot of a company's assets, liabilities, and shareholder's equity. A balance sheet is a type of financial statement. It gives you an ...

Learn what a contra liability account is, how it functions in financial accounting, and explore examples of this essential component in balancing liabilities.

Learn what every business owner needs to know about financial accounting, accounting software and financial statements.

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. As the name implies, a balance sheet should reveal ...

Previously, we discussed some ways to improve cash flow within a company. This evolved from a question that was posed by contractors on a message board regarding the difference between profits and ...

A financial statement that lists the assets, liabilities and equity of a company at a specific point in time and is used to calculate the net worth of a business. A basic tenet of double-entry ...