along with an income statement and a statement of cash flows. Because it uses archival data, a balance sheet only presents a snapshot of a company's financial situation. While it's a critical tool ...

Somer G. Anderson is CPA, doctor of accounting, and an accounting and finance professor who has been working in the accounting and finance industries for more than 20 years. Her expertise ...

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 ...

As one of the three main financial statements, the CFS complements the balance sheet and the income statement. In this article, we’ll show you how the CFS is structured and how you can use it ...

A financial statement that lists the assets ... Accounts receivable is the income derived from credit accounts. For the balance sheet, it's the total amount of income to be received that's ...