Balance sheet is defined as a snapshot of a company financial condition at a specific moment in time. Usually, a balance sheet comprises assets, liabilities, and owners’ or stockholders’ equity. Assets and liabilities are divided into short- and long-term obligations including cash accounts such as checking, money market, or government securities. At any given time, assets must equal liabilities plus owners’ equity. An asset is anything the business owns that has monetary value. Liabilities are the claims of creditors against the assets of the business.
By reading a balance sheet, a company owner can quickly decide any steps needed to expand his or to maintain his businesses. You can use this printable blank form balance sheet for your report reference.
Balance Sheet (54.0 KiB, 2,927 hits)