There are three types of financial statements for businesses: income statement, balance sheet and cash flow statement. Each of these financial statements shows a different aspect of the business.

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 ...

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 ...

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 ...

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. Creative accounting can be spotted by analyzing a ...

If you’ve ever looked at a balance sheet and immediately wanted to slam your laptop shut, you’re not alone. Most business owners don’t come from accounting backgrounds, and the sheer volume of numbers ...