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GAAP – Accounting for Equity - An Introduction to Equity The Basic Accounting Equation says that Assets – Liabilities = Equity Equity (stockholders’ equity, owners’ equity, etc.) is the claim shareholders of a company have on assets once the liabilities have been satisfied. Equity on the Balance Sheet There are five critical entries on a balance sheet related to equity: retained earnings, common stock, preferred stock, treasury stock, and other comprehensive income. Unlike assets and liabilities, equity tends to be much… Read More...
Personal Finance
Reconciling Accounts - Your parents probably have experience reconciling their checkbook by comparing your own written records with their bank statements. In today’s world, reconciling your checkbook isn’t a common activity for two reasons: Paper checks probably only… Read More...Bankruptcy - If you are severely behind on your bills and all other debt management plans have failed, the last option available is declaring Bankruptcy. What is Bankruptcy? Bankruptcy is a type of forced debt settlement, and… Read More...
Renter’s Insurance - “Rental Insurance” is taken out on property you rent to insure against damage. Rental insurance works like a lighter version of Homeowner’s Insurance. Why Would I Need Rental Insurance? As a renter, this insurance does… Read More...
Planning for Retirement - When should someone start planning for retirement? Fidelity Investments recommends most young people try to save up 2x their annual salary by the time they turn 35, which is a pretty good benchmark to shoot… Read More...