Stakeholders in a business need a way to conveniently assess the financial position of the firm. The balance sheet is a document designed to do just that. It provides a concise summary of everything a ...

If you own and operate your business single-handedly, financial specialists would call the company a "single-owner entity," also known as a sole proprietorship. From a legal standpoint, a single-owner ...

A balance sheet displays what a company owns, what it owes, how it's financed, and its shareholders' equity at a particular point in time. An income statement displays the company's revenues and ...

Julia is a writer in New York and started covering tech and business during the pandemic. She also covers books and the publishing industry. With over a decade of editorial experience, Rob Watts ...

Discover the essential components of a balance sheet, such as cash, liabilities, and retained earnings, to enhance your ...

While you may consider a balance sheet to be an essential financial statement for a company, assessing your own personal assets, equity and wealth in a well-laid-out financial report is equally ...

Some business owners are tempted to leave their balance sheets to their accountants, but it is important for leadership to understand how to read their balance sheets in order to keep an eye on their ...

An income statement is a financial document that details the revenue and expenses of a company. Some investors and analysts use income statements to make investing decisions. The income statement, ...