ABSTRACT
Accounting and finance are the heart of any organisation. Accounting is basically the system of making records, verifications and reporting of the value of assets, liabilities, expenses and income in the account books. Finance may be considered as the heart of any organisation, which requires cash flow to circulate throughout it to provide other parts with resources to maintain their vitality. Finance functions start from gathering the cash flow information from the accounting records and preparing projections of cash flow. Finance activities are concerned with preparing budgets, undertaking comparisons and finding variances. The balance sheet for HealMe Limited illustrates the main three components, which are assets, liabilities and equity. Equity or capital is the cash invested into the company by its owners or shareholders. The balance sheet is a statement of an organisation's assets, equity and liabilities at a particular date, which is usually the last date of the accounting period.
