Ask Experts Questions for FREE Help !
Ask
    coolflypeppa's Avatar
    coolflypeppa Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Sep 2, 2011, 08:17 PM
    Balance sheets
    What is the purpose of balance sheets?
    Unknown008's Avatar
    Unknown008 Posts: 8,076, Reputation: 723
    Uber Member
    		  
    #2

    Sep 3, 2011, 07:35 AM
    Try figure out what would happen if you were the owner of a big business company and didn't have a balance sheet.

    Wouldn't you want to know how much money are you making of your initial investment? Wouldn't you want to make the maximum profit? Wouldn't you want to make sure that no one is stealing or doing any other fraudulent activities in your business that you are not aware of?

    And maybe something some people like... is to compare figures from previous years and contemplate the progress of their company. Whether they think they can grow faster, of struggle so as not to be swallowed by the other rival businesses :)
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Trial Balance & Balance Sheets [ 6 Answers ]

Hi, I am using Microsoft Money to do my husband's small company's books (Canada) If it's a sole proprietorship, do I really need a trial balance and balance sheet? Thanks Jeanne

Balance sheets [ 2 Answers ]

Balance sheets and classified balance sheets

Balance Sheets [ 1 Answers ]

A comon-size balance sheet portrays the firm's accounts as a percent of what?

View more questions Search