Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. The balance sheet, income statement, and cash flow ...

Spotting creative accounting practices on the balance sheet can be broken down into three categories for analysis: assets, liabilities, and equity. Here we’ll explore some of the ways each of ...

In other words, the balance sheet must balance. Subtracting liabilities from assets shows the net worth of the business A basic tenet of double-entry bookkeeping is that total assets (what a ...

The U.S. Treasury can draw up to $700 billion in new funding from its gold revaluation account at the Federal Reserve. Read ...

Find out why accountants consider work in progress (WIP) to be a current asset on the balance sheet for financial accounting purposes.

But these are conspicuously missing from the Met’s balance sheet. The omission of the building is somewhat easier to explain. The Met states, in its accounting policy footnote on page 8 ...

20, accounting for around 10.4% of the central bank’s overall balance sheet, according to BOJ data. The phasing out of the loan program underscores BOJ Governor Kazuo Ueda’s determination to ...