Learn what a contra liability account is, how it functions in financial accounting, and explore examples of this essential component in balancing liabilities.

A significant report for every business leader to review, at least annually, is the balance statement. It gives business leaders insight into the financial health of the company. To get a true picture ...

Consumers are most likely to encounter balloon-type debt in the form of balloon mortgages. If you have a balloon mortgage, you make relatively small monthly payments. At the end of the repayment ...

Learn what every business owner needs to know about financial accounting, accounting software and financial statements.

A balance sheet is a financial statement that provides a snapshot of a company's assets, liabilities, and shareholder's equity. A balance sheet is a type of financial statement. It gives you an ...

Liabilities are the debts and obligations that detract from a company’s total value, which have to be paid over a certain period of time. The form of the debt can vary – common examples include ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

When investing, assessing a company’s assets and liabilities is a basic requirement to determine what the company is worth. Thankfully, public companies file their financial statements with the ...

Interplay between the economic and accounting impact of new International Financial Reporting Standards (IFRS 17 Insurance Contracts and IFRS 9 Financial Instruments) is challenging the asset and ...