Main Financial Statements: Balance Sheet, Income Statement Statement of Cash Flows 1. Balance Sheet (AKA: Statement of Financial Position) " shows company financial position at a specific date Heading: (1) Name of the Business (2) Name of the Statement (3) Date e.g. ABC Books Corp. Balance Sheet Dec. 31, 2015 Assets: property or resources owned by the business (e.g. cash, inventory, vehicles, real estate, equipment, tools, computers, furniture, accounting or notes receivable, investment in other company) *Employers are not assets Claim of Assets: Claim of Creditors - Liability Claim of Owners - Equity