+- Online Degrees and CLEP and DSST Exam Prep Discussion (https://www.degreeforum.net/mybb)
+-- Forum: Miscellaneous (https://www.degreeforum.net/mybb/Forum-Miscellaneous)
+--- Forum: Off Topic (https://www.degreeforum.net/mybb/Forum-Off-Topic)
+---- Forum: What does this Flashcard mean or Do this math problem for me (https://www.degreeforum.net/mybb/Forum-What-does-this-Flashcard-mean-or-Do-this-math-problem-for-me)
+---- Thread: Help with Balance Sheet Problem (/Thread-Help-with-Balance-Sheet-Problem)
Help with Balance Sheet Problem - craigfin - 04-10-2016
Should I update the balance sheet to reflect two recent hires that happened after the balance sheet was issued?
Note that the balance sheet is being used to analyze a company's health. So I am thinking either yes or update the second year of the Pro-Forma Income Statement to reflect it.
Help with Balance Sheet Problem - Prloko - 04-10-2016
craigfin Wrote:Should I update the balance sheet to reflect two recent hires that happened after the balance sheet was issued?
Note that the balance sheet is being used to analyze a company's health. So I am thinking either yes or update the second year of the Pro-Forma Income Statement to reflect it.
A balance sheet is at a moment in time, as of December 31, 20xx, or whatever reporting period or fiscal year they use. So you wouldn't update the balance sheet until the next reporting period.
Help with Balance Sheet Problem - craigfin - 04-11-2016
Okay thank you. So I will just update the 2nd year of the Pro-Forma Income Statement.