Profit and loss statement
How to Read Your Income Statement Like an Accounting Pro
An income statement is a financial statement that reports a company's financial performance over a specific accounting period. Financial performance is assessed by giving a summary of how the business incurs its revenues and expenses through both operating and non-operating activities.
Balance Sheet Format, Example & Free Template
An accounting balance sheet is a portrait of your business at a point in time. It shows what your business owns and what it owes. In this month's issue we will discuss the importance of an accounting balance sheet and look at a basic balance sheet example.
Balance Sheet definition and meaning
A balance sheet is basically a statement of assets and claim over assets of an entity as at a particular date. It should be noted that the double entry principle is not followed since a balance sheet as its name implies is just the gathering together of balances which are then presented in a special way.