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Balance Sheet
Unlike other financial statements a balance sheet is created only once
a year to calculate the net worth of a business. If your business plan
is for a start-up business, you will need to include a personal
balance sheet summarizing your personal assets and liabilities. If
your business exists already, include past years' balance sheets up to
the balance sheet from your last reporting period. Analyze the results
of the balance sheet briefly and include this analysis in your
business plan.
Tips
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As with all financial documents, have your balance sheet prepared or at least reviewed by a reputable accountant.
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Do not include "projections" that include dates and events already in the past. Old projections are more tolerable if your projections were right than wrong.
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Avoid large income or expense categories that are lumped together
without backup information about the components.
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> Did you know that detailed expense management reports are available to our Business Cardmembers? Not a Cardmember? Apply now.
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