Balance Sheet and Income Statement Assignment Help
Finance is one of the most complicated subjects you have to study during the academic life. To assist you in the process, BookMyEssay offers balance sheet and income statement assignment help and homework writing services at reasonable rates.
Financial statements: An Introduction
Financial statements can be referred to formal record related to financial activities of an individual, business or any other entity. Preparation and analysis of financial statements is performed by professional to examine the profitability, viability, and stability of a business enterprise.
Here are the components of financial statements:
Balance Sheet: It is a financial statement having the information of assets, liabilities, and shareholder’s equity at a particular point of time, written in a summarized form.
Formula for balance sheet:
Assets = Liabilities + Shareholder’s Equity
Income statement: Also known as profit and loss statement, it is a statement that contains financial information of a company for a particular accounting period.
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Importance of Balance Sheets and Income Statements
There are various reasons why financial statements like balance sheets and income statements are used by the businesses.
- Efficiency of the business processes
A company comes to know how effectively it is turning the raw materials into revenue. This also helps to understand the need of improvement in specific areas.
With the help of financial statement analysis, a company comes to know how much monetary worth it has on a particular day. The company can also calculate liquid assets with it. To identify whether the creditors own more of a company or shareholders, the debt to equity ratio can be used.
- Easy decision making
Financial statements let the management take more informed decision. They can examine the efficacy of a plan implemented in the past with the financial statements.
- Credit extension
The creditors usually analyze the financial statements before deciding whether they should give loan capital to a company or not. More often than not, the creditors decide the interest rates by the performance of the company in the past.
Shareholders take the support of income statements and balance sheets to check the company’s performance. On this basis, they decide whether or not they have to hold the shares or sell them.
There are several other important factors linked to financial statements in the professional world. And this is why you have to perform well during the academic assignment and exams. Get balance sheet and income statement assignment writing help for us to prepare for this promising field.
Common Mistakes Related to Financial Statements
The mistakes associated with preparation of financial statements are not just limited to students. Even some professionals make errors while preparing these statements. The most common mistake is linked to classification of assets and liabilities. As liabilities and assets fall into separate categories, it sometimes becomes difficult for students (and even businesses) to classify them. This is why some teachers offer extra help with balance sheet and income statement assignment.
Putting a long-term liability into the column of current liability is a common error seen in balance sheets. At professional level, this mistake, which looks small on paper, could lead to losing of investors and clients. This happens because finances look unstable on balance sheet.
When an individual has to include large number of entries, the tendency of errors becomes high. There is a possibility that a student enters 78 instead of 87 while preparing the sheets. This happens because the work of entering the data starts looking mundane after some time. For this reason alone, a lot of students take balance sheet and income statement assignment help.
If we talk about income statements, there is a possibility of mentioning inaccurate operating expenses. The mistakes related to calculation of operating expenses can result in overspending by a business. This occurs because figures from these statements are utilized to decide future budgets by a firm.
The students also face difficulties when they have assignments related to cash flow statements. Misclassification while preparing cash flow statements is a form of error the students commit. For example, the chances of getting confused between cash equivalents and cash are high. Also, the students find it difficult to differentiate between operational, investment, and financing cash flow.
To avoid these common mistakes, the students can get balance sheet and income statement assignment help from BookMyEssay. Every assignment is thoroughly checked by financial professionals to ensure there is no error in classification or calculation.
When you ask for balance sheet and income statement assignment help from BookMyEssay, you can be sure that final document is free of calculation errors, entry errors, and grammatical issues. Also, the writing service from BookMyEssay comes with free unlimited revisions if final result is not as per your expectations. We also provide finest quality dissertation writing help, assignment writing services for finance-related subjects.