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 ...

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 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 ...

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 ...

Financial statements are essentially the report cards for businesses. They tell the story, in numbers, about the financial health of the business. The information found on the financial statements of ...

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 ...

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 ...

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 ...