balance sheet objectives

. 1 - What are the main objectives of balance sheet?
The basic objective is to present the financial position of a company at a given date , ie , the resources you have and how they are funded is how to support the values ​​and assets you have and which have any benefit, the obligations incurred by the company to acquire or support them. , another objective is to support the values ​​and assets that are owned and which also has any benefit obligations incurred by the company for purchasing.


Two . What is the relationship between the balance sheet and income statement?
It is true that in conjunction with the balance sheet , form the group of the basic financial statements in any organization . The information that this state gives us the exact numbers of the types of income , costs and expenses , are obtained by accumulating the operations corresponding to a period items.



3 Is According to the different accounting procedures for recording transactions , which makes you more interesting?
Procedure or global general merchandise
Or detailed analytical procedure
Perpetual inventory method or constant
Perpetual inventory method

I find them very useful perpetual inventories as they help us a lot to find the number of products and goods at any time.


Perpetual Inventory Method

They are also known as " constant Inventories " . These inventories allowed at any time to know the gross profit without doing physical inventory and constantly know the value of the inventory.

Meets a procedure to follow to properly record the movements both into and out of the store items , its features allow us access to various information, such as gross profit and inventory of goods without lifting a physical inventory the purpose register all operations of both purchases and sales for the value of merchandise inventory and gross profit without having to perform a physical inventory.


The physical inventory is one that the procedure which is carried out in the warehouses of enterprises, in order to meet the physical stock units , ie, count, measure or weigh the items and at the end do list them by adding value, which will be the " cost" .