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Accounting & Bookkeeping & Small Business Forum
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geetha
Joined: 07 Jul 2008
Posts: 4
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| Posted: Mon Aug 18, 2008 11:42 pm Post subject: income statements or balance sheets? |
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What’s more important, income statements or balance sheets?
Regards,
geetha |
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stasia2003
Joined: 25 Feb 2008
Posts: 199
Location: FL
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| Posted: Tue Aug 19, 2008 6:36 am Post subject: Re: income statements or balance sheets? |
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geetha wrote: What’s more important, income statements or balance sheets?
Regards,
geetha
Well I think they are equally important. One shows your sales, expenses, and profit and the other shows your assets, liabilities, and equity. The financial statement that is not such a big deal is the statement of cash flows. Also, if applying for a business loan or something, the bank will want to see both the income statement and the balance sheet. |
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