All the adversity I’ve had in my life, all my troubles and obstacles, have strengthened me.” — Walt Disney
Have You Established your Business Balance Sheet?
Deciding to become an entrepreneur and establish your own hair salon not only means you have taken the step to start investing, it also means you need to understand the business activities. Typically, renovations take four to six weeks to complete and then you have to spend additional funds to buy furniture and equipment for the salon. Let's not forget that you may need to consider getting a loan from bank to add with the funds you have contributed to the start up.
As a business owner, it is now time to think about accounts that are likely to appear on your balance sheet. How do you classify your assets and liabilities? Are you properly accounting for them? Below is a sample balance sheet created by Fontenot & Associates Solutions and can be customized for each customer and it's business.
It's not to late to start understanding the accounting of your business.
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.