A balance sheet provides a snapshot of a company's assets, liabilities and equity at a specific point in time, while an income statement summarizes its revenues and expenses over a period to show ...

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

Understanding how the income statement affects the balance sheet is not that difficult. The two concepts fit together like pieces of a dynamic puzzle. In this case, the puzzle is the financial ...

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 ...

Accountants with businesses big and small normally compile financial statements each quarter. The statements paint a picture of all of the company's transactions. First, the company will record the ...

In accounting, every financial transaction is recorded by two entries on the company's books. These two transactions are called a "debit" and a "credit," and together, they form the foundation of ...

Opinions expressed by Entrepreneur contributors are their own. Income statements are fundamental financial documents that track a business’s revenue, expenses, and profit over a specific period.

A vertical analysis is used to show the relative sizes of the different accounts on a financial statement. For example, when a vertical analysis is done on an income statement, it will show the top ...

As a business owner monitoring the financial health of your business is an essential task. You need to understand the financial position of your company and how you can improve it. The income ...

In accounting, every financial transaction is recorded by two entries on the company's books. These two transactions are called a "debit" and a "credit," and together, they form the foundation of ...