balance summary worksheet summary.docx

balance summary worksheet summary.docx - 1 Balance Sheet...

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1 Balance Sheet Worksheet Summary Tammy Sylvia HSC/405 September 4, 2017 Regina Robinson
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2 Balance Sheet Worksheet Summary How does the process of creating a balance sheet occur and what is the importance of such a balance? According to , a balance sheet is made to show where a company is financially at any specific moment, usually done monthly or quarterly. A balance sheet reports its assets, liabilities and equity. Balance sheets purpose is to evaluate the financial place where a company is at in the moment. Balance sheets have some limitations, they usually can assets that have increased in value but brand names and trademarks that have great value do not have to be reported on the balance sheet if they were not acquired during an agreement. According to , assets are items that companies own and have value. Assets would include such items as cash, money that is owed to another person or company, investments, items for sale such as anything
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