Balance sheet also known as statement of financial position of a company. It represents the financial performance of an entity. Three most common financial statement prepared for a business are balance sheet, an income statement, and a cash flow statement. These are one of the most commonly given assignments to students pursuing their accounting courses. Such assessments may be time-consuming and you might have to re-do the whole questions if the balance sheet does not match. To avoid this problem, you can call up an accounting professional who provides students with balance sheet preparation assignment help. This individual will guide and help you in each step in solving your balance sheets.
Preparing financial statements require you to be well-versed with the concepts and formulas, and have fast calculation skills. The balance sheet preparation assignment help accounting professionals at Online Assignment Experts will also show you some tips that can assist you in solving your questions quickly and save valuable time during your accounting examinations.
There are two main components of balance shee-:
Balance sheet presentation
Assets = Liabilities+ Shareholder's equity
Assets can be defined as a resource to the company either tangible or intangible which can be converted into cash. It provides value to the organization. It is categorized as current and non- current assets such as inventory, land, building.
Liability can be defined as company's obligation that occurs during the working of the business. It is used to finance operations of the organization also provide path for expansion by indulging in high level projects. It is categorized in both current and non- current liability such as accounts payable, deferred revenues, accrued expenses, mortgages, short term and long-term loans.
Shareholder's equity is also known as stockholder's equity. It can be defined as owner's capital after debts have been paid. It helps analysts to assess the financial health of a company. It includes share capital and retained earnings. It provides the clear picture of the company's performance to its shareholders. It represents the net holdings of the shareholders.
Basically, Balance sheets are prepared to communicate the insight of the financial position of the organization to its stakeholders and it also help future investors to make their decision for their investment in that particular company. It also provides a clear snapshot of the business health of the company at a given point of time.
Preparation of balance sheet has a fixed format and it needs to prepared in the same way. All the companies are abided by the companies act to follow the rules to prepare their financial statements in the set format. Our balance sheet preparation assignment help expert has mentioned a format below. You can take reference from it, as this entire format includes all the components of assets and liabilities.
In thousands of US Dollar ($000)
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