The
biggest surprise for me in this reading was how many different items go into a
balance sheet and how specific many of them are. After reading each of the
terms I understand the need for how specific they are, but I never would have
guessed this was how complicated it is to create a balance sheet.
One
part of the reading that was confusing to me was the capital budgeting. I don’t
really understand the reasoning behind the formula or why this isn’t include in
the regular budget as its own category.
One
question I would ask the author is, how do you know when you should get an
accountant for your venture? Is it based on how large the venture is?
Another
question I would ask the author is, how do you adjust the budget when something
impactful and unexpected happens to the business?
I
didn’t really think the author was wrong about anything. I don’t know very much
about accounting, so I am just assuming what is written in the chapter is
correct.
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