An income statement is typically prepared at the end of the year or the beginning of a new year when all financial information has been wrapped up and reported, but you can create one at any time ...

An income statement tracks income and expenses for a small business. Most small businesses use cash accounting systems, so Excel is a great program to track your income and expenses. The cash basis ...

A balance sheet displays what a company owns, what it owes, how it's financed, and its shareholders' equity at a particular point in time. An income statement displays the company's revenues and ...