Accounting is my life. Stop by some time and I'll tell you why."
Did you know? In 1868 the modern balance sheet was created in the form that we use today. The income statement would not be created until just prior to World War II. The first large U.S. Accounting firm Haskins $ Sells begin in 1895. The accounting profession exploded around 1900 with hundreds of accounting firms springin up across the United States.
Some accountants get their first glimpse of the balance sheet during their first accounting class in college. The balance sheet is also referred to as the statement of financial position. It is one of the major financial statements because it offers a way to look inside your business and outline what it is really worth, at a specific point in time. If you should ever decide seek a partner for your business, they will ask to review your balance sheet to get an idea of the company's financial condition. There are three key things a balance sheet includes:
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Hello, I'm Terra the Founder and Marketing Director of Fontenot & Associates Solutions. Thank you for joining my Accounting world. Our blog's purpose is to teach with the determination of closing industry and accounting process gaps that knowingly exist with our uniquely designed detailed procedures and trainings.
My mission is to offer the best accounting results for all companies seeking to close their process gaps with actual solutions. With my Bachelors and Masters Degree in Accounting, I strive for continuous development and professional growth in this profession. My professional career has been in the Oil & Gas industry for nearly the past 10 years but my business focus is to support and train accounting professionals in all industries.