Knowing what kinds of tests you may undergo and how those tests work can help reduce stress in a time when you may find yourself facing many new questions. Follow the links below to find out what you can expect as you work with your care team to keep your cardiovascular system as healthy as possible.
BALANCE SHEETS. The balance sheet, also known as the statement of financial position, is a snapshot of a company's financial condition at a single point in time. It presents a summary listing of a company's assets, liabilities, and owners' equity. The balance sheet is prepared as of the last day of the business year. Therefore, it corresponds to the end of the time period covered by the income statement. To understand the balance sheet, its purpose, and its contents, several accounting concepts need to be examined.
When looking at a balance sheet, two of the most important things you want to get a feel for are a company's liquidity and solvency, says Robinson. Liquidity is a company's ability to meet its short-term obligations, such as its working capital needs and its debt obligations.For more detail, read this primer on the basic elements of a balance sheet .). To get a feel for how a pro dives into a balance sheet, Inc.com spoke with Tom Robinson, managing director of the education division of the CFA Institute in Charlottesville, Virginia.