The household balance sheet accounts for current and future assets and cash flows, so that you can judge whether your current assets are sufficient to meet future expected spending. You get one chance ...

Financial statements report the business activities and financial performance of a company. Learn how they are used by executives, investors, and lenders.

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 ...

The link between a balance sheet and an income statement is obvious, but it's also tricky. The more income your business earns, the more value should show up on its balance sheet. But the calculations ...

An audit is an inspection of a company's accounting records, usually done by an independent certified public accountant. Audits are performed in an effort to determine whether a business is ...

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 ...

If you're interested in investing, you've probably read quite a few articles that say "do your homework" before buying a stock. Reading and understanding a balance sheet is part of that homework.