Accounting Balance Sheet Practice is a set of procedures used to prepare and analyze financial statements that record the state of an organization’s financial health. It involves recording, classifying and summarizing transactions in order to provide an organized view of the company’s finances. This helps the business owners and other stakeholders make well-informed decisions about the financial resources available to them. By assessing the financial data retrieved from the balance sheet, professionals can also identify any potential improprieties or signs of mismanagement. Accounting Balance Sheet Practice serves as an important tool for organizations to efficiently manage their assets and liabilities.