When you create a balance sheet you can consult also an accountant from Frankfurt. The balance sheet is one of the annual and interim financial statements or other date analysis in a company. With the profit and loss account, the balance sheet represents the economic success of a company in a past consideration. A balance sheet is created on a date, a profit and loss account for a period of time. Computationally, the balance sheet represents the obtained from the accounting records, summarized and systematic overview of structured assets. By Comparison of closing stock of various active and passive costs at different times a company’s economic development can be represented across time and traced by inspection of the accounting. Therefore when accounting also called a comparison of the company’s assets. The balance sheet has different functions.
The documentation function fills them, because she are binding information about a company’s existing assets. It represents the formal completion of the accounting. It also has the winning determination function, by the equity at the beginning of the fiscal year is compared at the end and thus a gain or loss can be determined. The balance sheet that it is an instrument for the control of the operation for the entrepreneur provides the information function. Also she can be viewed by interested third parties such as creditors, banks and lenders. There are different types of balances. Current balances are usually as at 31 December of the year created. Publicly traded Companies are even encouraged to publish an interim report each quarter. In addition to the regularly there are also extraordinary balance sheets to create balance sheets, is prescribed at various points or basis for decision-making are useful. These include the Foundation balance sheet, Liquiditionsbilanz and fusion balance and financial balance. For most companies, it is also prescribed to create both a commercial and a tax balance sheet. Here, there might be differences between the balances in the approach and the evaluation. Depending on a distinction between individual and group balance sheet by the number of large enterprises. The individual balance sheet belongs to the financial statements, the consolidated balance sheet is part of the consolidated financial statements. When a merchant begins a commercial enterprise, it must create an opening balance sheet. Also, there is still a balance, which moves away from financials. This is the so-called knowledge balance. A balance sheet is divided into two areas. The active, so the use of the funds available on the left side. These include the assets (tangible, intangible assets, financial assets) and current assets (inventories/inventories, receivables and other assets, securities, cash etc.). The liabilities, so the funds are available on the right side. This includes equity capital (capital, capital reserves, retained earnings, retained earnings/loss carried forward, profit / loss, loss covered, where appropriate, not by equity), provisions, liabilities, accruals and deferred tax liabilities in the first place. If you would like to put the accounting of his company in the hands of professionals, you should engage an accountant in any case.