accounting
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- In this website it will provide the information and example of balance sheet and income statement that will easy for them to get information of finance.
What is Income Statement?
- An income statement is one of the three important financial statements used for reporting a company's financials performance over a specific accounting period.
Example Income Statement.
What is a Balance Sheet?
- Is a financial statement that reports a company's assets, liabilities and shareholders equity at specific point in time.
Example Balance Sheet
- Assets
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Assets add value to your company and increase your company's equity.
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Example of assets are:
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Cash
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Investments
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Inventory
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Office equipment
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Machinery
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Real estate
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Company owned vehicles
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- Liabilities
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It will decrease your company's value and equity. The more your assets outweigh your liabilities, the stronger the financial health of your business.
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Examples of liabilities are:
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Bank debt
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Mortgage debt
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Money owed to suppliers (accounts payable)
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Wages owed
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Taxes owes
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- Equity
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Also known as shareholder's equity which represents the amount of money that would be returned to a company's shareholders if all of the assets were liquidated and all of the company's debt was paid off.