Why is it a good idea to know your net worth? explain how you can use an income statement, personal balance sheet, and net worth statement with regard to your personal finances.

Net worth is the difference between what you own and what you have. If you exceed your liabilities you have a positive net worth. If your liabilities are greater than your assets you have a negative net worth. Its a snapshot of your financial situation. If you calculate your net worth you will see the end result of everything you've earned and spent as of now. Net worth statements and all you asked of can help you determine where you are, how to get where you want to be, if your spending  to much. Honestly it can tell you a lot of things. I can go on, but you can paint the picture from here.

Ongoing civil wars western roman empire finally collapsed476 c.e. romulus, the last of theroman  emperors in  the west, was overthrown by the germanic leader odoacer, who became the first barbarian to rule in rome. the order that the  roman empire  had brought towestern  europe for 1000 years was no more.