Balance Sheet Basics

Get the critical data needed to plan for the future. Preparing a balance sheet will help you capture assets, liabilities and net worth. Over time, you’ll be able to observe trends and establish benchmarks that can help you be more profitable. If you’re an AgWest customer, or considering becoming one, we’d be glad to meet with you to review your balance sheet.

Why should I create a balance sheet?

Beyond serving as a statement of financial position, the balance sheet enables you to consider and plan for possible business scenarios. With a balance sheet in hand, you're better prepared to answer questions such as:

• Do I have sufficient working capital to cover unexpected increases in input costs?
• Am I prepared to take advantage of upcoming opportunities to expand my operation?
• How much debt can the business afford?
• Should we consider purchasing new equipment now?

What types of financial information are included in a balance sheet?

• Do I have sufficient working capital to cover unexpected increases in input costs?
• Am I prepared to take advantage of upcoming opportunities to expand my operation?
• How much debt can the business afford?
• Should we consider purchasing new equipment now?