Here are the basic steps to building a balance sheet: List all assets and their ... such as an income statement, which demonstrates profit or loss, and a cash flow statement that lists how a ...

Anciens Huang / Getty Images The balance sheet and the profit and loss (P&L) statements are regularly issued by companies. Such statements provide an ongoing record of a company's financial ...

You must understand a few basic financial terms to read a ... key terms and the purpose of the four main reports: balance sheet, income statement, cash flow statement, and statement of shareholder ...

We won't delve into this here. Fixed assets are treated in a special way - both on the income statement and on the balance sheet. Although an item, such as a $2,000 computer may be purchased and paid ...