The balance sheet reports the business' assets, liabilities and equity as of a given point in time. It gives you an overall picture of the financial position of a business with its net worth.

A balance sheet helps you...

• Determine how much your business owns, owes, and how much is "left over" as net worth.

• Using ratio and analysis, it can quickly identify how much working capital you have to meet current expenses.

• Determine inventory turnover rates so that you can achieve optimal inventory level.

• Make long term decision for your business whether it is the right time for you to expand your business.