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 ...

Learn how to prepare an up-to-date profit and loss statement, balance sheet and statement of cash flows. Many, or all, of the products featured on this page are from our advertising partners who ...

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 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 ...

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, ...

At some point, you’ve probably heard the phrase, “It takes money to make money.” But if you’re not careful, it’s easy for expenses to spiral out of control — and you could end up making little to no ...

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 ...

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. As the name implies, a balance sheet should reveal ...