Balance Sheet is the final process of accounting after journal and ledger. It presents the summary of the financial balances of a firm at the end of a particular date. It is used to analyse the total assets and liabilities of the business. The balance sheet is also known as the statement of financial position. Students who are interested in studying accounting must have to be proficient in creating a balance sheet because it is an important part of accounting assignment. Lots of issues can be found while preparing a balance sheet and thus our balance sheet assignment help India service is available to look into your concern.
While writing balance sheet assignments, there are several things to be taken care of. For example; knowledge of assets, liability, cash flow, money market etc. Additionally, there are some major components of a balance sheet. They are like:
As per the accounting equation, there is a specific formula for the balance sheet:
Assets= Liabilities + Owner’s Equity
Generally, a balance sheet is created with assets and liability which are presented in a specific section. Since both sections balance out, it is called the Balance Sheet. These categories also contain different sub-categories such as:
Format to be followed for balance sheet:
Since the above snapshot shows a complete balance sheet of a company. It is important not only for the creditor but it is also important for the banker to determine whether the company is eligible for the additional loans or credit.
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