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Leesburg, Ohio | It is not really an arguement between the two types. Each type has a different use and different purpose. Depends on the purpose of the balance sheet.
Original cost basis and book values must be kept for tax accounting. No choice but to keep that one.
Keeping an updated market value for all assets gives a more accurate picture of real current values and solvency. Lenders usually want to know how your financial picture would look if the business had to be sold. A conservative market value list gives that information.
We complete both types at year-end every year, and furnish both book value and market value balance sheets to our lenders. | |
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Land Equity
