Balance sheet is a financial statement that summarizes a company's assets, liabilities and shareholders' equity at a specific point in time. These three balance sheet segments give investors an idea as to what the company owns and owes, as well as the amount invested by...
A balance sheet is a financial statement that gives an outline of a company’s assets, liabilities and shareholders’ equity at any particular point in time. The balance sheet shows the dollar amount of you assets vs. your liabilities and owners equity. The assets side of...
As a business owner, you need to be 100% sure that your business is keeping accurate financial records. If not you are at significant risk of contravening Canada Revenue Agency (CRA) regulations. ‘If you are carrying on a business or engaged in a commercial activity...
On the backdrop of high profile accounting frauds and misstatements, Sarbanes – Oxley Act (SOX) was introduced in 2002 with an intended goal to make corporate accounting more transparent. Security Exchange Commission (SEC) was handed the enforcement responsibility and a new oversight body was formed...
