Accounting - Balance Sheets
- Topics:
- Financial Statements
- Tags:
- Accounting,
- Liability,
- Financial Statements,
- Financial Services,
- Financial Accounting,
- Finance,
- Business Town,
- Business Operations,
- Balance Sheets,
- Asset Management,
- ...
- Source:
- Business Town
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Overview: A balance sheet is a snapshot of a business’ financial condition at a specific moment in time, usually at the close of an accounting period. It 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. Read the article to know the terminology used in the balance sheet and about the effective usage of Balance Sheet.
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Format: HTML | Date: Jan 2003 | Pages: 1
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