must equal liabilities plus equity (how the assets are financed). In other words, the balance sheet must balance. Subtracting liabilities from assets shows the net worth of the business A basic ...

A personal balance sheet summarizes your assets and liabilities to calculate your net worth. The personal cash flow statement shows your cash inflows and outflows over a specific period ...

You can also generate a personal balance sheet to get a concise view of your assets and liabilities. Here, CNBC Select explains what a balance sheet is, how to create one and how it can be useful ...