Balance Sheet
A balance sheet is a financial statement that allows company owners and shareholders to quickly assess the company’s current assets, liabilities, and equity.
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Frequently Asked Questions
Balance sheets are not legally required unless you own a public corporation, where all are required by federal law to issue three financial statements, one of which is the balance sheet.
Business owners usually generate balance sheets throughout the year. This can be at the end of every month, quarter, or year. For new business, You may want to print them out each month as they provide clear insight into your company’s performance. This can allow for course-correction if you do not like what you see on paper.
Since balance sheets do not require a signature, it is not necessary to involve a notary public.
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