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 ...

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 ...

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 ...

David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning.

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

Create this important document to show investors the true net worth of your business, and to keep track of your financial trajectory. If the income sheet shows what you’re earning, the balance sheet ...

Tim Bennett explains what a balance sheet is for, including the type of information it contains, and how you can use it. See all of Tim's video tutorials here. Don't miss the latest investment and ...

A strong balance sheet can make all the difference between your investment surviving a market downturn and blowing up in your face. Nearly every financial crisis can be traced back to a foundation of ...