If your goal is to buy strong companies and hold onto them for the long term then knowing something about business can be pretty important.
If you have some knowledge about how the balance sheet is suppose to look then you are going to understand the company a little bit better and be able to get a better idea of how strong the company actually is.
But it can only give you another edge to familiarize yourself with things like the balance sheet, and cash flow statement. Learning more is always a good thing and can help you put all the odds in your favor.
