What Is a Balance Sheet?
A balance sheet is one of the three primary financial statements used to assess a company's financial position at a specific point in time. It provides a snapshot of a company's assets, liabilities, and equity. The balance sheet follows the fundamental accounting equation: Assets = Liabilities + Equity
Here's a breakdown of the components of a balance sheet:
Assets: Assets represent what the company owns or controls and can include tangible assets (such as cash, inventory, property, plant, Read more [...]