A balance sheet is a versatile document that offers a snapshot of a company's or individual's finances at a given point in time. Businesses can use balance sheets to develop plans for the future ...
The actual expense occurs in the future so it's classified as an asset that the company holds on its balance sheet. It's considered a current asset if the value exchange for a prepaid expense is ...
If you're considering investing in Apple (AAPL), you can start evaluating the company through its balance sheet, which presents a picture of its financial situation at a certain point in time.