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The balance sheet provides a snapshot of assets, liabilities, and equity at a specific point. The income statement, also known as the profit and loss statement, shows revenues, costs, and net income over a period. The cash flow statement illustrates cash inflows and outflows, essential for managing liquidity. Understanding these documents enables effective financial planning …

Bookkeeping for General Contractors: How to Streamline Leer más »

Working capital, often referred to as the lifeblood of a business, represents the funds available for day-to-day operations. It encompasses current assets such as cash, inventory, and accounts receivable, minus current liabilities like accounts payable and short-term debt. Changes in working capital reflect the fluctuations in a company’s short-term assets and liabilities over a specific …

Change in Net Working Capital NWC Formula + Calculator Leer más »