The statement of affairs method resembles your company's balance sheet in that it shows the company's net worth at a point in time. The statement of affairs method compares transactions at the ...

Discover how tax liabilities are reflected in balance sheets, income, and cash flow statements. Learn about deferred tax ...

Under the general financial accounting rule, the determining factor for whether consolidated financial statements comes down to the level of control your company has over each business it has an ...

Three financial documents can evaluate the health of a business: the balance sheet, the income statement and the cash flow statement. Each measures and reports on different aspects of a company’s ...

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 ...