Sample Essay

This essay is the Analysis of the financial statements of Phillip Morris Inc.

As we know that the balance sheet is the most important and primary source of information of an organization, as it shows the performance of the organization. The shareholders are more than interested in having a look at these reports as they tell the health of the organization. In short we can say that the balance sheet is the summary or the financial health of an organization’s performance for a given period of time.

Balance sheet is one of the most important financial statements of a business or institution which shows the assets, debts and owner’s investment in the business as of a specific date. Assets are divided in to two major categories which are the current assets and the fixed assets. Usually assets are categorized according to their liquidity, means that how soon they can be converted into cash. As far as the debt part is concerned it shows the liability that the organization has. Debts are recorded in the balance sheet according to how soon they would be paid. In short we can say that the balance sheet show two sides of the business’s financial situation number one what the business owns and number two what the business owes.

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