Financial Statements Assessment Checklist

The Financial Statements Assessment Checklist is a comprehensive tool designed to assist business owners and financial professionals in evaluating the financial health of their organization. This checklist provides a systematic approach to reviewing and analyzing various types of financial statements to gain insights into the company's financial performance, stability, and overall well-being.

• (1) Balance sheet

  A balance sheet provides a snapshot of your business's financial health at a given point in time. It lists your assets, liabilities, and equity.

• (2) Check the company's balance sheet to see if it is carrying too much debt.

• (3) Income statement

  An income statement shows your business's profitability over a period of time. It includes your revenue, expenses, and net income.

• (4) Compare the company's current ratio to its industry average to see if it is in good financial health.