Finance Do You Keep A Financial Statement For Your Business?

[Good-Guy]

Maintaining proper accounts and records is one of the main and important thing a businessman or a person who runs a business does. The field of accounts is one of the vast fields when it comes to business. One of the important aspects of accounts is the financial statements in a business. Financial statements consists of maintaing a proper records of your expenses, income, profits, and other kind of records in your business. In short, they are a great way to analyse financial activities that are being conducted in your business. Usually, an accountant is responsible for maintaining such statements and records, but being an owner, it is always a great idea to have some idea about how financial statements work. Do you maintain such statements?

 

[btaliat]

It is proper for sellers to be keeping the financial records of businesses. This will show the strength and weakness of the business. Aside this, this will enable the buyers to know how to manage his business and financial record at times can be used for collateral in bank to secure loan.

 

[Good-Guy]

It is proper for sellers to be keeping the financial records of businesses. This will show the strength and weakness of the business. Aside this, this will enable the buyers to know how to manage his business and financial record at times can be used for collateral in bank to secure loan.

I have not been runing a business as of now and I am actually earning money online. However, I am predicting that there will come a time when I will be earning more and I will actually need to maintain a proper record of my financial activities. I would not hire an accountant but I will become my own accountant.