One of the most salient features of every business is its financial aspect. Managing assets, liabilities, profits, and losses are crucial to success. The growth of a business cannot be determined unless a proper record is maintained for its finances. This area must be organized before a company can thrive. Accountants are hired for this purpose. They are entrusted with the critical job of maintaining financial statements. The most useful of such statements is a balance sheet. Its vital functionality is appreciated by every business owner and accountant. In fact, it is one of the three major financial statements maintained…
