The Balance Sheet Inc., do undertake various type services including Book Keeping, Tax and Accounting services and many more. Our team of experts thoroughly reviewed your previous and present books, rectify errors and correct them, thus set your business up to maximize savings and keep your business up-to-date. Our detailed accounts statement will help business owners to understand the present financial status of their company. Our Book Keeping includes highly accurate tracking of your business expenses, assets and revenue. We’ll help prepare your taxes and make sure that you are taking full advantage of current tax benefits. Schedule your consultation with us soon!

1. ACCOUNTS ACCOUNTS
Higher Account Accuracy Earns Higher Profit

2. What is an account?
The systematic recording, reporting
and analysis related to financial
transaction of a business.

4. Purpose of Accounting
Providing information that is
required for sound economic
decision making.

5. Accounting

6. Different Types of Accounting
•Financial Accounting
•Management Accounting
•Governmental Accounting
•Tax Accounting
•Forensic Accounting
•Project Accounting
•Social Accounting

7. Financial Accounting
Financial Accounting is used to prepare
financial report that provide information
about performance of a firm to external
parties (creditors, investors and tax
authorities)

8. Financial Accounting

9. Management Accounting
The process of making management
reports and account that provides
accurate and timely statistical and
financial informers required by
managers to make decisions.

10. Management Accounting

11. Management Accounting showing
 the available amount of cash
 sales revenue generated
 amount of orders in hand
 accounts payable
 accounts receivable
 raw material and inventory
 outstanding debts etc.

12. Government Accounting

13. Government Accounting
It is also known as public accounting or
federal accounting. It refers to the type
of accounting information system used in
the public sector. Governmental
accounting ensures the performance and
financial of the public sector institutions
are set in-budgetary context since
financial constraints are often a major
concern of a government.

15. Forensic Accounting
Forensic accounting uses
auditing, accounting and
investigative skills to conduct an
examination into a company’s
financial statements. Thus
providing an analysis of account
that is suitable for court.

16. Tax Accounting

17. Tax Accounting
It refers to accounting for the tax related
matters and governed by the tax rules
prescribed by the tax laws of a jurisdiction.
Usually Tax Accountants adjust the financial
statements prepared under the financial
accounting principles to account for the
differences with rules prescribed by the
laws related to tax.

19. Project Accounting
Project Accounting is an important
componet of project management. It
refers to the use of accounting system
to track the financial progress of a
project through frequent financial
reports

20. Social Accounting

21. Social Accounting
Social accounting is an important tool to
calculate the performance of any
company in view of social responsibility .
This is a type of accounting that puts a
value on the effect of company’s
business on environment and society.

22. Accounting Heads can be classified
into 3 groups

23. ACCOUNT
HEADS
PERSONAL
ACCOUNTS
REAL
ACCOUNTS
NOMINAL
ACCOUNTS

24. Personal accounts – Accounts which
represent persons and organizations
Real Accounts – Accounts which represent
tangible aspects
Nominal Accounts – Accounts which
represent income, loss, gain, expense etc.

25. Accounting is important why?
Main goal of a Company is its
success. In order to achieve
hope of success, a company has
to know where their money is
coming from and where it is
going out. That is the
importance of perfect
accounting.

27. The Balance Sheet Inc.
(Accountants In West Palm Beach)
801 Northpoint Parkway,
Suite 6
West Palm Beach,
FL 33407
Tel: (561) 501-3080 Fax: (855) 460-1629