What is Balance sheet? Explain in brief.
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Definition of 'Balance Sheet' Definition: Balance Sheet is the financial statement of a company which includes assets, liabilities, equity capital, total debt, etc. at a point in time. Balance sheet includes assets on one side, and liabilities on the other. ... It is the amount that the company owes to its creditors.
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A balance sheet (also called the statement of financial position), can be defined as a statement of a firm's assets, liabilities and net worth. It provides a snapshot of a business at a point in time. These are prepared at the end of an accounting period like a month, quarter or year end
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