Here are presented the elements of Assets and Liabilities

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For example, payroll tax, social security contribution and health insurance contribution are shown separately in the balance sheet. But all three contributions are part of a larger category, that of debts to budgets related to salaries. And analyzing each individual contribution would not help anything concrete. Thus, the way in which the financial situation of the business is expressed is simplified. Forecast function The information contained in the balance sheet is the basis of the forecasts for the following periods .


Having the figures made in a year at your disposal, you can predict how much British Student Phone Number List you can increase sales, what expenses you can reduce, what influence salary increases would have, how faster collection of invoices would help you, how much you can get into debt or how you can reduce the degree of indebtedness. Basically, you start from zero, build a forecast for the next period and you will know clearly where you need to act to get better results. The structure of the balance sheet Although the balance sheet according to the definition reflects only the two elements – Assets and Liabilities, it is still a larger document, consisting of a set of forms useful for analyzing the economic situation of the company.




Here are the most important forms that make up an accounting balance sheet: The actual balance sheet . Here are presented the elements of Assets and Liabilities as of December 31, together with the data from January 1 of the same year. See this way for each indicator where you left and where you arrived after a year. Profit and loss account. Here are detailed the incomes and expenses realized for the analyzed year and for the previous year. You can thus see how each category of income or expense has evolved compared to the previous year. Informative data . In this section of the balance sheet you will find a series of indicators presented in more detail than in the actual balance sheet, but still in a more generalized way than in the accounting balance sheet.