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 ...

A balance sheet is a financial document that presents the financial status of a business through an accounting of a company’s assets, liabilities, and equity. A balance sheet, when looked at with a ...

In general, net worth is the total assets owned by an individual or business less any debt obligations and other financial liabilities. On a company's balance sheet, net worth is demonstrated through ...

A balance sheet shows a company's assets, liabilities and shareholder equity at a single point in time. These financial statements are used to determine a company's health and financial viability at a ...

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 ...

Learn how general provisions function as financial safeguards, set aside by companies to cover potential future losses, 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 ...

A balance sheet is a type of financial statement that lists a company's assets, liabilities, and shareholders' equity. The assets should be in "balance" and equal the total liabilities and ...