Personal Finance

Accounting 101: balance sheet

The balance sheet is a picture of the working capital of the company in a specific moment in time, or in simple terms, all the things the company owns and owes: Assets represent where the company has invested money, while Liabilities + Equity are where the company took the money to

Personal Finance

Accounting 101: financial statements introduction

Although there are a lot of numbers in accounting and finance, it is not an exact science. This is because: * In many cases they are estimates of reality. * Different countries have different rules and follow different standards * International standards often are not very strict in terms of the structure for