Balance sheet

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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)‎,

Balance sheet (also known as statement of financial position). 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.

Related concepts

Related coursework