RDPWin

Accounting - Reports

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Overview

Gauge the financial health of the company using standard or customized accounting reports. Reports serve as a communication tools for bookkeepers, management, and owners as well as banks, vendors, and any tax reporting needs. Make business decisions based on up-to-date financial information. While there are many useful accounting reports, the most important are likely the balance sheet and the income statement.

Balance Sheet

A balance sheet is calculated based on assets = liabilities + equity or equity = assets - liabilities. The balance sheet provides a view of the net worth of the property. Critical financial decisions concerning bank loans or credit ratings are often based entirely on the information found in the balance sheet.

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Last Updated 04/05/2010