Statements required by Generally Accepted Accounting Principles (GAAP ... The balance sheet provides an overview of assets, liabilities, and shareholders' equity as a snapshot in time.

When determining a company's solvency 一 the ability to pay its short-term obligations using its current assets 一 you can use several accounting ratios. The current ratio is one of them.

Assets are commonly classified as current, fixed, financial, or intangible for accounting purposes. Investopedia / Nez Riaz Individuals usually think of assets as items of value that can be ...