Financial Statements : Personal Financial Statements Advice
- Topics:
- Financial Statements
- Tags:
- Balance Sheet,
- Balance Sheets,
- Finance,
- Financial,
- Financial Accounting,
- Financial Planning,
- Financial Statement,
- Financial Statements,
- Streetdirectory
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- Streetdirectory
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Overview: Financial statements generally take the form of records of the financial performance of a business. They provide information about the profitability and general financial health of the organisation. A balance sheet, also known as a statement of financial position, is a summary of what an entity is worth at a particular point in time. It summarizes what a business owns (its assets), what it owes (its liabilities) and its net worth (its equity or capital). While the income statement is a summary over a period of time (usually a year), the balance sheet is a summary at just one point in time. The balance sheet is a "Snapshot" of a company's health.
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Format: HTML | Date: Jan 2009 | Pages: 3
