When it comes to building out a balance sheet, an organization’s accounts payable come into play. As you work through a balance sheet, you’ll need to determine whether accounts payable are an asset or ...

Tax Payable is a liability account that represents the payroll, sales and other taxes that you owe but for which you have not issued payment. This liability account provides an avenue to recognize the ...

In accrual accounting, determining exactly how a company generates or burns its cash is not as straightforward as you may expect. Because of the way companies must record their accounts payable and ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Somer G. Anderson is CPA, doctor of accounting, and an accounting and finance ...

When you look at a company’s financial statements, you see a snapshot of its performance – sales figures, profit margins, and a long list of assets and liabilities. But how do you know if a company is ...