There are three types of financial statements for businesses: income statement, balance sheet and cash flow statement. Each of these financial statements shows a different aspect of the business.

Julia is a writer in New York and started covering tech and business during the pandemic. She also covers books and the publishing industry. With over a decade of editorial experience, Rob Watts ...

Previously, we discussed some ways to improve cash flow within a company. This evolved from a question that was posed by contractors on a message board regarding the difference between profits and ...

Running a successful business requires a lot more than showing up at the office and promoting your products or services. Successful small business owners understand that always knowing where their ...

A balance sheet is a versatile document that offers a snapshot of a company's or individual's finances at a given point in time. Businesses can use balance sheets to develop plans for the future and ...

Even though the income statement normally attracts the most attention from investors, the balance sheet is the true starting point for understanding a company’s financial position. It shows how much a ...

Joseph Nguyen is a contributing author at Investopedia and a research analyst with experience at a securities brokerage firm. Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society ...