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Balance Sheet - What is a Balance Sheet? The Balance Sheet (or Statement of Financial Position) is one of the four financial statements required by the SEC based on the U.S. GAAP (Generally Accepted Accounting Principles). According to the SEC, the Statement of Financial Position presents “detailed information about a company’s assets, liabilities and shareholders’ equity.” In other words, this statement is a financial snapshot of the firm on a specific date. Why is the Balance Sheet important?… Read More...Business
Personal Finance
Spending Plan - Definition of Spending Plan A "Spending Plan" is exactly as it says - a plan of what you will be spending each month. There are usually two parts - your "fixed" spending and your "variable"… Read More...
Managing Debt - To be "In Debt" means to owe money to someone else, usually making fixed payments to pay back the amount over time, plus interest. Debt means different things to different people - having some debt… Read More...
Accounting for Automatic Payments - Automatic Payments – Blessing Or Curse? That title may be a bit hyperbolic – Automatic Bill Payments can be a huge time saver, and do help make sure your bills get paid on time (avoiding… Read More...Short Term Financing - Short Term Financing “Short Term” financing means taking out a loan to make a purchase, usually with the loan term at less than a year. There are many different types of short-term financing, the most… Read More...