A balance sheet reports a company's assets ... From an accounting standpoint, revenues and expenses are listed on the P&L statement when they are incurred, not when the money flows in or out.

List all debts and liabilities ... disposal of fixed assets and a high number of miscellaneous expenses. While a balance sheet provides a way to track business trends, investors should remember ...

Accrued expenses are a type of accrued liability and are listed on the balance sheet as a current liability. The amount of the expense is recorded on the income statement as an expense ...