A company’s long-term success hinges on its financial health. In a competitive market, stable companies may come out on top while unstable companies can struggle to survive. One of the clearest ways ...

Financial statements report the business activities and financial performance of a company. Learn how they are used by executives, investors, and lenders.

What Is An Income Statement? An income statement lists a company’s income, expenses, and resulting profits over a specific time frame, usually a quarter or fiscal year. Companies create income ...

Companies prepare an income summary and an income statement at the end of an accounting period. While an income summary is a clearing account used to close income-statement accounts at the end of a ...

A balance sheet provides a snapshot of a company's assets, liabilities and equity at a specific point in time, while an income statement summarizes its revenues and expenses over a period to show ...

Natalya Yashina is a CPA, DASM with over 12 years of experience in accounting including public accounting, financial reporting, and accounting policies. Amanda Bellucco-Chatham is an editor, writer, ...