Explain balance sheet to non finance people

Question posted in Financial Services on 09 2009
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Identify three most important areas of balance sheet and how to explain to non finance people, experience with financial reporting, dealings with closing down for year end statutory accounts etc
 
 
1 Answer
 
Most balance sheet items are important as it form part and parcel of the financials. In previous experience the company was engaged in construction projects and special focus emphasis was made on the WIP, Cash and Payables as each of this form a very significant part of the balance sheet. For the WIP, any differences from our original forecast are bound to be significant.

We constantly involved huge movement of funds and treasury matter to finance the construction. Hence cash and account payable managements are of significant importance to the company.

09/19/2009
 
 
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