Decision Makers Guide - DMG37009

Using accounts: Balance sheet


A balance sheet is appropriate if the business has any
1) capital
2) liabilities (debts) or
3) assets.

This means that if there is evidence that the business has, for example, its own vehicle, equipment or bank account, a balance sheet is appropriate. A balance sheet is not appropriate for people who have no tools of their own and no business bank account, for example, jobbing gardeners.





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