Learn the principles of financial accounting, its importance, and how it functions to provide a clear picture of a company's financial health and compliance.

A balance sheet for a sole proprietorship is similar to a balance sheet for any other kind of business in that it shows how much the business entity owns and owes. Sole proprietorships are closely ...

The link between a balance sheet and an income statement is obvious, but it's also tricky. The more income your business earns, the more value should show up on its balance sheet. But the calculations ...

Previously, we discussed some ways to improve cash flow within a company. This evolved from a question that was posed by contractors on a message board regarding the difference between profits and ...

Balance sheets consist of assets, liabilities, and shareholders' equity, revealing financial health. Shareholders' equity equals assets minus liabilities and reflects theoretical investor value if a ...