Creative accounting can come in many different ... statement of changes in equity, balance sheet, and financial statement note. Financial statements allow investors and analysts to determine ...

In other words, the balance sheet must balance ... payable is that amount still due at the close of the fiscal year. Notes payable are the amounts still owed on any long-term debts that won ...

Find out why accountants consider work in progress (WIP) to be a current asset on the balance sheet for financial accounting purposes.