Explain the in the Asheville Company balance sheet and the correct presentation for the balance errors sheet. Incorporate into your discussion the accounting equation and further comment on why financial statements are important to any given end user. Finally, why is it important for you as business students, to understand the accounting cycle and the process that leads to the financial statement preparation? Explain the in the Asheville Company balance sheet and the correct presentation for the balance errors sheet. Incorporate into your discussion the accounting equation and further comment on why financial statements are important to any given end user. Finally, why is it important for you as business students, to understand the accounting cycle and the process that leads to the financial statement preparation