Familiarize yourself with the company's two main documents, the balance sheet and income statement
Introduction to finance for project managers

The two main accounting documents are the balance sheet and the income statement.

The balance sheet is a snapshot of a company's assets at a given date.

The balance sheet shows :

• assets acquired as part of the company's investment policy;

• resources raised by the company as part of its financing policy.

The balance sheet (Tool 1 ) classifies the various balance sheet items, both assets and liabilities.

The income statement reports on operating conditions. It traces...