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This balance sheet contains two financial snapshots of the Hometown Family Medical Group. The first one taken in 1999 and the second one was taken in 2000 just a year later. This balance sheet is very easy to read and understand. Navigating through this balance sheet, one can locate the assets, the liabilities and equities for each year rather quickly because its arranged starting form the first year following the second year. I like how the assets listed on this balance sheet includes different types of assets such as cash, accounts receivable, current assets and long term assets. The assets displayed a slight increase from 1999 to 2000 which means that the company is doing fine financially. The current liabilities decreased from 14,061 to $12,862 from 2000 to 1999 which eppresses that the company is well on their way to paying their dues.

This balance sheet provided useful information when it comes to the financial status of the company. I was able to locate the different assets, liabilities and equities as they progressed over the year time period. It clearly disclosed progress in aspects such as assets and liabilities which is a good financial state for the company. It is extremely important that a balance sheet balances out meaning that assets equals liabilities plus equities.

This balance sheet was very simple and straight forward however to improve it I would add a couple bar graphs to show when the company made progress and when the company took a downfall. That would have provided readers with a visual understanding rather than just reading numbers which can be very boring. Secondly, I would have emphasized the main items such as assets, liabilities and equity in bold letters to capture the readers attention and keeping them engaged. Furthermore, I would have included footnotes at the end of the balance sheet to further elaborate on any confusion that may rise during the process of evaluating the information presented. Overall, it was easy to comprehend and it provided the necessary substances of the business financial state but a few improvements will definitely not cause any harm.

References

F. Michael Arnow, CPA, CFP, MBA, and George C. Xakellis, Jr., MD, MBA. (n.d.). Making Your Balance Sheet Work for You. Retrieved September 15, 2016, from http://www.aafp.org/fpm/2001/0600/p27.html