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A balance sheet tells you the financial picture of the business at a particular time. Together with the other financial statements, it helps in business analysis and decision making. As an example, you can know the debt to equity ratio of the business from the balance sheet. Using the financial statements, both current and past, you can reach conclusions about the business financial condition, progress, and future potential. Comparing with other similar sized businesses in the industry gives you an idea of how well the business is doing in relation to other businesses and make necessary decisions about the business.
Having written and published the book Accounting for Beginners, I give accounting and business tips and lessons on my author Facebook page https://www.facebook.com/BeginnersArabic.
