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 ...

An income statement tracks income and expenses for a small business. Most small businesses use cash accounting systems, so Excel is a great program to track your income and expenses. The cash basis ...

Companies prepare the balance sheet and the income statement periodically at the end of each accounting cycle. While a balance sheet relates to a specific date, or a given point within an accounting ...

An income statement is your business’s bottom line: your total revenue from sales minus all of your costs. Financial data is always at the back of the business plan, but that doesn’t mean it’s any ...

In accounting, every financial transaction is recorded by two entries on the company's books. These two transactions are called a "debit" and a "credit," and together, they form the foundation of ...

A vertical analysis is used to show the relative sizes of the different accounts on a financial statement. For example, when a vertical analysis is done on an income statement, it will show the top ...

This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. In financial accounting — one of the most common types ...

Opinions expressed by Entrepreneur contributors are their own. Income statements are fundamental financial documents that track a business’s revenue, expenses, and profit over a specific period.

John Parker is a business writer with 20+ years of experience as a business executive specializing in accounting and finance. Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society ...