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The balance sheet is laid out in a specific order for a number of reasons. The first reason is GAAP, or Generally Acceptable Accounting Practices. It is a guideline used by all accountants to formalize the statements and keep communication standardized. Business - All business/finance/loan/mortgage related link can be found here Computers - All computer hardware/software/peripheral related link can be found here Internet - All webhosting/webdesign/internet marketing related link can be found here Software - All software related link can be found here Web Design - All web design/development related link can be found here Web Hosting - All web hosting related link can be found here Web Promotion - All search engine optimization/internet marketing related link can be found here Web Resources - All other web related link can be found here Recreation - All travel/hotel/cruise related link can be found here Casino - All online gambling/poker/blackjack/roulette related link can be found here Health - All online pharmacy/hospital/health related link can be found here Shopping - All online shopping/gift related link can be found here Miscellaneous - All other links can be found here
If the company is also publicly traded, then the format of the balance sheet is required by the SEC, the Securities and Exchange Commission. The last reason relates to Sarbanes – Oxley, a set of accounting regulation regarding internal controls designed to minimize fraud. Due to recent corporate scandals, such as Enron and WorldCom, regulations have been stricter, requiring more detail |