What is a Balance Sheet? Why is it prepared?

balance Sheet

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5 Answers
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  • Balance Sheet is the Final result of a company in a year. we need balance sheet because it help us to find out where company make failure & we can also take many decesion after preparation the balance sheet. 
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  • When nearing the end of your company’s financial year, there are a number of procedures that need to be performed to ensure that your business’s finances are in order. One of the major financial statements that business owners and their accountants ought to be using in order to achieve financial success for their business is the balance sheet.
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  • Hi,
    To put it simply Balance Sheet shows all the assets & liabilities of a company on a particular date. B/s shows the position of the company by showing how much funds company has raised and where it is applied.

    It is prepared as it is Statutory requirement for companies. Also the owners of the compnies will be interested for the details disclosed in the Balance Sheet of the company.
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Balance Sheet

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