Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. The balance sheet, income statement, and cash flow ...

Accounts receivable is the income derived from credit accounts. For the balance sheet, it's the total amount of income to be received that's logged into the books at the close of the fiscal year.

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 ...