The Balance Sheet: Basic Summary of Value and Ownership
In Chapter 1 we compared the balance sheet to a snapshot. That was to give you an idea of its purpose, which is to show the financial condition of the business at a single point in time. Now let’s talk about what the balance sheet is and what it looks like.
Assets and Ownership—They Really Do Balance!
In this chapter we get into the nitty-gritty to help you understand the various line item labels that appear on a balance sheet, what they represent, and what you can learn from them.
Introducing the Wonder Widget Company
Let’s build our discussion on an example. Throughout this book, we use ...
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