A basic tenet of double-entry book-keeping is that total assets (what a business owns) must equal liabilities plus equity (how the assets are financed). In other words, the balance sheet must balance.

Net profit after taxes. This is the "bottom line" earnings of the business. It's computed by subtracting taxes paid from net income before taxes. Balance Sheet The balance sheet provides a ...

olm26250/Getty Images Financial statements are like a report card for a business. They highlight ... including the balance sheet, income statement, and cash flow statement. Each of these outlines ...