losing data

[Colin Law]

On 27 December 2013 08:30, Chris Bester <chrisbester at cybersmart.co.za> wrote:
> Hi Maf
> Hope you had a good Xmas.
> On the subject of balance sheets.  I agree that a balance sheet only makes sense when it is run to a specific date, however, it also only makes sense when it starts at a specific date.

No, a Balance Sheet is absolute, not relative to a particular time.
Consider your bank statement for example.  It shows the Current
Balance as the amount in the account at a particular time, not the
amount relative to the start of the year. If you want to know the
difference in balance since the beginning of the year then you need a
different report.

Colin