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 ...

A balance sheet displays what a company owns, what it owes, how it's financed, and its shareholders' equity at a particular point in time. An income statement displays the company's revenues and ...

Discover what sundry income is, its impact on business finances, and see examples such as royalties and late fees. Learn how ...