This final paper indicates the importance of analyzing and using accounting information presented in the annual financial reports in making business decisions, especially in evaluating company indebtedness or business partners. Company indebtedness has an impact on liquidity, profitability and existence of companies, as well as on the growth and developpment of companies. Instruments and procedures for the analysis of indebtedness, the importance of adequate funding and the techniques and models of business risk management are presented in this final paper. Primary means of company indebtedness analysis are gearing ratios. On the basis of the gearing ratios it is possible to analyze the structure of capital, funding sources and to estimate the risks of further company investments. It is necessary to analyze the company indebtedness in order to manage it properly. If borrowed funds are used adequately in the business process it can result in the increase of return on what is invested in and it can also result in the increase of profitability and company performance as well. All of the above is presented on a practical example through the company „Hoteli Zlatni rat d.d.“ indebtedness evaluation based on the financial reports analyses. Proposals for the greater application of indebtedness analysis in the businsess have been presented in this final paper.