Chapter 9 - Accouting

Chapter 9 - Accouting

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  • Thank you for meeting with me to go over the financial worth on my business. I need to look over my expenses , and make a effective plan to help reduce my expenses.
  • After analyzing your income statment, and reviewing your expenses and revenue, your business is doing very well. Your business did very well as it made a large profit, revenue exceeded expenses.
  • That sounds good. I was worried about the financial worth of my business. However I also have questions about my recent purchases.
  • I recently expanded my business to another building.
  • To update your purchase of a major asset I need to add that transaction in the balance sheet.
  • I also bought supplies which I will pay within 30 days. Do I need to record this transaction?
  • Yes, that is a liability which needs to be accounted for a written in the books until you pay it off.
  • Thank you for informing me of your recent transactions, as we must keep the business record up to date to ensure the financial worth of your business. I will update the books and we can set another appointment soon.
  • Any other concerns or questions I can account for?
  • No, thank you. I appreciate your advice for my financial needs of my business to make effective decisions.
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