balance sheet accounts

Financial Accounting Meaning, Principles, and Why It Matters

Financial Accounting Meaning, Principles, and Why It Matters   What Is Financial Accounting? Financial accounting is a specific branch of accounting involving a process of recording, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time. These transactions are summarized in the preparation of financial statements—including the balance sheet, […]

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Balance Sheet: Explanation, Components, and Examples

Balance Sheet: Explanation, Components, and Examples What Is a Balance Sheet? The term balance sheet refers to a financial statement that reports a company’s assets, liabilities, and shareholder equity at a specific point in time. Balance sheets provide the basis for computing rates of return for investors and evaluating a company’s capital structure. In short, the

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