Problem
'Count on Us' is a small accounting firm that works with sole proprietors and partnership style of companies. They fully understand and appreciate the challenges of small businesses and have created a business model that focuses on helping them succeed with accounting and consulting services.
1. Explain why a company needs a balance sheet and an income statement and how they are different
2. At times, 'Count on Us' needs to look at a company's recording of invoices and business dealings and needs to ensure that they follow accounting rules. Explain what service 'Count on Us' does in this regard and why it is important
3. 'Count on Us' deals with the financial manager of a company. Explain one role of the financial manager of a company and how it impacts the small business.