Assets are listed on the balance sheet in order of liquidity.
Liabilities are listed in the order in which they will be paid.
There is no formula, per se, for calculating a cash flow statement, but instead, it contains three sections that report the cash flow for the various activities that a company has used its cash.
Short-term or current liabilities are expected to be paid within the year, while long-term or noncurrent liabilities are debts expected to be paid in over one year.
Unlike the balance sheet, the income statement covers a range of time, which is a year for annual financial statements and a quarter for quarterly financial statements.
The date at the top of the balance sheet tells you when the snapshot was taken, which is generally the end of the fiscal year.
The balance sheet identifies how assets are funded, either with liabilities, such as debt, or stockholders' equity, such as retained earnings and additional paid-in capital.
Investors can also see how well a company's management is controlling expenses to determine whether a company's efforts in reducing the cost of sales might boost profits over time.