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What is a balance sheet in accounting?

What Is a Balance Sheet? A balance sheet is a financial statement that shows the relationship between assets, liabilities, and shareholders’ equity of a company at a specific point in time. Measuring a company’s net worth, a balance sheet shows what a company owns and how these assets are financed, either through debt or equity.

What is a balance sheet used for?

Balance sheets can be used with other important financial statements to conduct fundamental analysis or calculate financial ratios. A balance sheet is a financial statement that reports a company's assets, liabilities, and shareholder equity.

What is the difference between a balance sheet and a statement?

Balance sheets are divided into two sections: the left side lists a company's assets whereas the right side lists the company’s liabilities and shareholders' equity. In order for the statement to balance, the company’s assets must equal its financial obligations and equity.

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