Accounting for the Numberphobic: A Survival Guide for Small Business Owners
The key thing to understand about a balance sheet is simply that it must balance at all times,
Pat Dorsey • The Five Rules for Successful Stock Investing: Morningstar's Guide to Building Wealth and Winning in the Market
The balance sheet reflects the assets, liabilities, and owners’ equity at a point in time. In other words, it shows, on a specific day, what the company owned, what it owed, and how much it was worth. The balance sheet is called such because it balances—assets always must equal liabilities plus owners’ equity.
John Case • Financial Intelligence, Revised Edition: A Manager's Guide to Knowing What the Numbers Really Mean
This statement is named the balance sheet because your Current assets equal your Liabilities and Capital.
Jennifer Lynne Matthews • Fashion Unraveled - Second Edition - How to Start and Manage Your Own Fashion (or Craft) Design Business
Briefly: a flow is any change over time, and a stock is the accumulation of flows. So your refrigerator's stock of food is fairly constant over time, but this consists of flows in when you shop, and flows out when you eat. The value of a business (the stock) is the value of existing assets plus future free cash flows.1 But wait! That value is mostl... See more