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Assets Worth What Balance Sheet Says? - Term Papers

Assets Worth What Balance Sheet Says?

?
Hilda Lahti owner of the Custom-Made Products has gone through a huge change
in her business. Hilda noticed that one part of her business made more money than the
other, so therefore Hilda decided to base her whole business on that just side. In order to
run this business she needed a loan. She brought her balance sheet in, without changing
the assets section to satisfy her new business. This brought up the question “are the assets
always worth what the balance sheet says”?
The bank manager might be considered about the repayment of this bank loan
since the balance sheet wasn’t accurate and had missing information they might always be
concerned since she does have other things to pay ...

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than the competition. By fixing the balance sheet it will also have a
better chance of approval, the assets should be up to date and include a headings that tells
the owners capital this way the banker can see what the annual income is of the business.
A buyer is found for the machinery that pays $35,000 this will change the balance
sheet because it has an affect on be the cost of the equipment changing the amount of the
total assets. this is what an updated balance sheet would look like for her company...
Therefore I believe that the assets are not always worth what the balance sheet
says because a balance sheet always changes thus changing not only the assets but
everything else on the balance sheet, if one thing changes it has an affect on the hole
outcome of the final totals. The GAAP that influenced me in my thinking is the continuing
concern concept since it deals with an operating business and the various changes. A
balance sheet is like a snap shoot it only stays that way ...

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Assets Worth What Balance Sheet Says?. (2008, September 30). Retrieved November 23, 2024, from http://www.essayworld.com/essays/Assets-Worth-What-Balance-Sheet-Says/90732

"Assets Worth What Balance Sheet Says?." Essayworld.com. Essayworld.com, 30 Sep. 2008. Web. 23 Nov. 2024. <http://www.essayworld.com/essays/Assets-Worth-What-Balance-Sheet-Says/90732>

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PAPER DETAILS

Added: 9/30/2008 06:47:04 PM
Category: Economics
Type: Premium Paper
Words: 424
Pages: 2

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