The preparation of a balance sheet depends on the size and business structure. In small personal companies, the owner or business bookkeeper typically organises the balance sheet. For medium and large firms, the financial statements are usually checked by external accountants to ensure precision and tax compliance. For publicly traded corporations, balance sheets and other economic statements should follow the strict accounting standards. These businesses are needed to keep their documents in accordance with Generally Accepted Accounting Principles and file with the Securities and Exchange Commission (SEC). The type of public accountants also complete the external tax audits to confirm the accuracy of financial reporting. Read more - https://blog.saginfotech.com/how-prepare-balance-sheet-genius-tax-return-software
","author_name":"Amit Gupta"}