The balance sheet discloses the financial condition of a company at a specific period of time. It presents a summary of the business's assets, liabilities and stockholders' equity.
It is absolutely critical for companies to prepare accurate balance sheets as this gives potential investors and lenders insight into its financial strength. Without a concise balance sheet, you'll never interest a serious investor and no lender will extend you a significant line of credit.
This checklist will guide you through the balance sheet creation process from gathering important financial documentation to reviewing and verifying a completed statement.
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