http://www.brighthub.com/office/finance.aspxenhttp://www.brighthub.com/office/finance/articles/19317.aspxMon, 21 Sep 2009 19:15:49 GMTb133e95a-c263-4882-8f2a-b24547eff78e:19317johngBook values and market values of liabilities can differ when a company is experiencing financial distress. Investors must be able to properly value liabilities under this condition. Financial statements are historical records of a company’s position at some point in the past. By the time financial statements are made public, changes in various econ...http://www.brighthub.com/office/finance/articles/19314.aspxMon, 21 Sep 2009 19:15:21 GMTb133e95a-c263-4882-8f2a-b24547eff78e:19314johngJust like assets, the book value of a liability can differ from its market value. Usually this discrepancy is smaller and less important. Since financial statements are historical records, they represent what a company was at a point in the past. However, the value of a company’s assets and liabilities are constantly changing in reaction to market ...http://www.brighthub.com/office/finance/articles/16013.aspxThu, 20 Aug 2009 20:32:09 GMTb133e95a-c263-4882-8f2a-b24547eff78e:16013johngThe balance sheet identity is one the most elementary lessons of accounting. However, students learning introductory accounting often find it difficult to grasp in its standard form. The balance sheet of a firm is a snapshot of a company’s financial situation at one point in time and is made up of three parts: the company’s total assets, liabilitie...