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

The value of your business on any given day is the difference between your assets and liabilities. While many assets have intangible benefits, such as goodwill, recipes and patents, liabilities are ...

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 ...

A liability is a financial obligation or debt owed. Liabilities are key elements on every company’s balance sheet, and therefore, important to stock and bond investors. Learn more. In finance and ...

Assets generate income and appreciate in value, while liabilities drain resources and depreciate over time. Do you want to improve your net worth? Probably so. But if you’re like many people, you ...

Michael Schmidt, CFA, is a staff member of FINRA's Dispute Resolution Board with 20+ years of experience in the financial market. David Kindness is a Certified Public Accountant (CPA) and an expert in ...

As a former claims handler and fraud investigator, Jason Metz has worked on a multitude of complex and multifaceted claims. The insurance industry can be seemingly opaque, and Jason enjoys breaking ...

Current liabilities include short-term financial obligations due within a year. Investors should monitor companies' current ratios to assess financial strength. A current ratio above 1 indicates a ...

As tax geeks, you are likely knee deep in partnership tax returns right now. And after you’ve competently computed taxable income and proficiently populated the balance sheet, you’re ready to kick ...