what is the difference between the balance sheet of a bank and any other normal business or firm?

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what is the difference between the balance sheet of a bank and any other normal business or firm?

Postby Mia729 » Tue Feb 23, 2010 10:49 am

what is the difference between the balance sheet of a bank and any other normal business or firm?


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Mia729

 
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what is the difference between the balance sheet of a bank and any other normal business or firm?

Postby ilDuce » Tue Feb 23, 2010 11:03 am

nothing-both comprise the assets of each organisation.In the banks case the assets will be mostly cash held on behalf of customers and cash reserves-i.e. cash profits held back from previous years,and also any plant and machinery and property.
any non banking organisation will also have assets,but they will tend to be some cash but mostly other assets such as stock,property,vehicles etc.

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what is the difference between the balance sheet of a bank and any other normal business or firm?

Postby Adity » Tue Feb 23, 2010 11:17 am

There is no difference b/w the balance sheets. Only thing different is that a bankk follows a presribed form or schedule while preparing final accounts.

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what is the difference between the balance sheet of a bank and any other normal business or firm?

Postby ALHW196 » Tue Feb 23, 2010 11:31 am

Opposite direction. When the business or firm record a "Dr", the bank will record a "Cr".

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what is the difference between the balance sheet of a bank and any other normal business or firm?

Postby Tincky » Tue Feb 23, 2010 11:45 am

bank is also like a firm doing business : and the Balance sheet is similar to other firms:

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Re: what is the difference between the balance sheet of a ba

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