A balance sheet is a financial statement that provides a broad overview of a given firm's assets, liabilities and shareholders' equity. This important document gives management and other interested ...

A written report of the financial condition of a firm. Financial statements include the balance sheet, income statement, statement of changes in net worth and statement of cash flow. The first step in ...

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 versatile document that offers a snapshot of a company's or individual's finances at a given point in time. Businesses can use balance sheets to develop plans for the future and ...

The ending balance of a cash-flow statement will always equal the cash amount shown on the company's balance sheet. Cash flow is, by definition, the change in a company's cash from one period to the ...

Some small-business owners, especially first-time entrepreneurs, may not be all that familiar with balance sheets and revenue statements. But you can consider some easy-to-remember tips to clear away ...