Balance sheet
Balance sheet (also known as statement of financial position; hereinafter, the Statement) is a financial statement, as of a particular date, that shows the amount of assets owned by an organization as well as the amount of claims (liabilities and owner's equity) against these assets.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
Related concepts
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
