18. Balance SheetBy Roger Bryan
Balance sheet reflects the status of business by providing information in relation to asset value, liability, the worthiness of property. Assets provide cash during emergency. If you have good equity shares, stocks and holdings, you will get secured loan on easy terms and conditions. Therefore, you need to make a shortlist of the items and accessories which you can transfer into cash. These valuable assets need to be short listed into your balance sheet.
In your business plan, you will have to enlist the necessary items like bank loans, accounts and credit history. If your credit scoring is excellent, you can get another loan to spoon feed your business. You must calculate the total market value of convertible holdings and the total amount of these convertible assets should be included in your business plan.
Under current asset and holdings, you need to specify products such as cash, inventory and other items which are up to date and transferable into cash. Hand to hand transferable accessories/assets/holdings must be included in business plan. For instance, you should mention money order scheme and pay checks which can be snail mailed to receivers. If you have liability insurance package, government sponsored bonds and security deposits in your bank, those items must be enlisted in your business plan.