Accounting for a letter of credit on your balance sheet depends on when you use it. One issued by your financial institution acts as a credit substitute. That institution, often a bank, steps into ...

Reconciling your bank transactions to your business book is essential to the financial health of your company. However, if you’ve never reconciled your company’s transactions before, the process can ...

Balance sheets consist of assets, liabilities, and shareholders' equity, revealing financial health. Shareholders' equity equals assets minus liabilities and reflects theoretical investor value if a ...

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. As the name implies, a balance sheet should reveal ...

Opinions expressed by Entrepreneur contributors are their own. One of the tools that can be used to assess the performance of your business or organization is a balance sheet. A balance sheet, which ...