Balance sheets and income statements are the two most important financial reports business managers need to run their company efficiently. These statements allow management to measure performance and ...

A profit and loss statement summarizes a business’s revenue and expenses. Learn how to use a profit and loss statement to ...

Owner's distributions are earnings that an owner withdraws from a business based on the profit that the company has generated. Business owners may withdraw profits via distributions for personal use, ...

Discover the three essential financial statements required by GAAP: income statement, balance sheet, and cash flow statement, ensuring accurate financial reporting.

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 ...

While you may consider a balance sheet to be an essential financial statement for a company, assessing your own personal assets, equity and wealth in a well-laid-out financial report is equally ...

When you want to know a company’s financial health, it helps to look at its balance sheet. But if you’ve never seen a balance sheet before or don’t know how to read one, all you’ll see is a collection ...