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 ...

Learn how accounts payable are recorded on a balance sheet, why they’re classified as liabilities and their role in managing ...

A basic tenet of double-entry book-keeping is that total assets (what a business owns) must equal liabilities plus equity (how the assets are financed). In other words, the balance sheet must balance.

"It's not as complicated as it sounds," says Krista Morgan, CEO of P2Binvestor Inc., a company offering business loans. Here are the basic steps to building a balance sheet: List all assets and ...

Net profit after taxes. This is the "bottom line" earnings of the business. It's computed by subtracting taxes paid from net income before taxes. Balance Sheet The balance sheet provides a ...