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2. Balance sheet - Wikipedia

   en.wikipedia.org/wiki/Balance_sheet

   A balance sheet summarizes an organization's or individual's assets, equity and liabilities at a specific point in time. Two forms of balance sheet exist. They are the report form and account form. Individuals and small businesses tend to have simple balance sheets. [5] Larger businesses tend to have more complex balance sheets, and these are ...

3. How to Analyze a Balance Sheet - AOL

   www.aol.com/finance/analyze-balance-sheet...

   The average accounts receivable inventory turnover is the cost of goods sold from the income statement, divided by the average inventory during our accounting period. The account payables turnover ...

4. Income statement - Wikipedia

   en.wikipedia.org/wiki/Income_statement

   Sankey Diagram - Income Statement (by Adrián Chiogna) An income statement or profit and loss account [1] (also referred to as a profit and loss statement (P&L), statement of profit or loss, revenue statement, statement of financial performance, earnings statement, statement of earnings, operating statement, or statement of operations) [2] is one of the financial statements of a company and ...

5. Bookkeeping - Wikipedia

   en.wikipedia.org/wiki/Bookkeeping

   Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business and other organizations. [1] It involves preparing source documents for all transactions, operations, and other events of a business. Transactions include purchases, sales, receipts and payments by an individual person, organization or ...

6. Financial statement - Wikipedia

   en.wikipedia.org/wiki/Financial_statement

   Historical financial statements. Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to understand. They typically include four basic financial statements ...

7. Accounting equation - Wikipedia

   en.wikipedia.org/wiki/Accounting_equation

   The fundamental accounting equation, also called the balance sheet equation, is the foundation for the double-entry bookkeeping system and the cornerstone of the entire accounting science. Like any equation, each side will always be equal. In the accounting equation, every transaction will have a debit and credit entry, and the total debits ...