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In financial accounting, a balance sheet or statement of financial position is a summary of a person's or organization's balances. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year. A balance sheet is often described as a snapshot of a company's financial condition. Of the four basic financial statements, the balance sheet is the only statement which applies to a single point in time.

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Wikipedia About Balance Sheet

In financial accounting, a balance sheet or statement of financial position is a summary of a person's or organization's balances. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year. A balance sheet is often described as a snapshot of a company's financial condition. Of the four basic financial statements, the balance sheet is the only statement which applies to a single point in time.

A company balance sheet has three parts: assets, liabilities and ownership equity. The main categories of assets are usually listed first and are followed by the liabilities. The difference between the assets and the liabilities is known as equity or the net assets or the net worth of the company and according to the accounting equation, net worth must equal assets minus liabilities.

Another way to look at the same equation is that assets equals liabilities plus owner's equity. Looking at the equation in this way shows how assets were financed: either by borrowing money (liability) or by using the owner's money (owner's equity). Balance sheets are usually presented with assets in one section and liabilities and net worth in the other section with the two sections "balancing."

Records of the values of each account or line in the balance sheet are usually maintained using a system of accounting known as the double-entry bookkeeping system.

A business operating entirely in cash can measure its profits by withdrawing the entire bank balance at the end of the period, plus any cash in hand. However, many businesses are not paid immediately; they build up inventories of goods and they acquire buildings and equipment. In other words: businesses have assets and so they can not, even if they want to, immediately turn these into cash at the end of each period. Often, these businesses owe money to suppliers and to tax authorities, and the proprietors do not withdraw all their original capital and profits at the end of each period. In other words businesses also have liabilities.

Types

A balance sheet summarizes an organization or individual's assets, equity and liabilities at a specific point in time. Individuals and small businesses tend to have simple balance sheets. Larger businesses tend to have more complex balance sheets, and these are presented in the organization's annual report. Large businesses also may prepare balance sheets for segments of their businesses. A balance sheet is often presented alongside one for a different point in time (typically the previous year) for comparison.

Personal balance sheet

A personal balance sheet lists current assets such as cash in checking accounts and savings accounts, long-term assets such as common stock and real estate, current liabilities such as loan debt and mortgage debt due, or overdue, long-term liabilities such as mortgage and other loan debt. Securities and real estate values are listed at market value rather than at historical cost or cost basis. Personal net worth is the difference between an individual's total assets and total liabilities.

Search results for Balance Sheet

Balance Sheet | AccountingCoach.com

AccountingCoach.com is a FREE resource for you to gain an understanding of the balance sheet, one of the main financial statements. Learn about the components of ...www.accountingcoach.com/online-accounting-course/05Xpg01.htm...

Preparing A Balance Sheet

The way to show off the success of your company is a balance sheet. ... Sample Trial Balance Sheet (interactive tables are available for your use) Resources ...www.va-interactive.com/inbusiness/editorial/finance/intemp/b...

MSFT: Balance Sheet for Microsoft Corporation - Yahoo! Finance

Get the detailed balance sheet for Microsoft Corporation (MSFT) ... Get Balance Sheet for Another Symbol: Symbol Lookup. Sector Analysis ...finance.yahoo.com/q/bs?s=MSFT

GOOG: Balance Sheet for Google Inc. - Yahoo! Finance

Get the detailed balance sheet for Google Inc. (GOOG) ... Get Balance Sheet for Another Symbol: Symbol Lookup. Sector Analysis ...finance.yahoo.com/q/bs?s=GOOG&annual

Balance Sheets | Business.com

Directory of business balance sheet software providers. Resources to help analyze and understand an accounting balance sheet, including balance sheet templates.www.business.com/directory/accounting/financial_statements/b...

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News about Balance Sheet

3i bolsters balance sheet with £732m cash call

Financial TimesMichael Queen, 3i ’s new chief executive, on Friday promised to embrace a more conservative financing strategy for the UK’s oldest private equity group as it announced plans to raise £732m from a rights issue.http://www.ft.com/cms/s/0/0c147aea-3baa-11de-acbc-00144feabd...

Platinum miner Lonmin poised for cash call

Daily TelegraphLonmin the platinum miner will tomorrow become the latest bluechip company to lean on its shareholders to strengthen its balance sheet when it outlines proposals for a 500m £332m cash call.http://www.telegraph.co.uk/finance/newsbysector/industry/min...

Balance of power on Strip could shift if new owners snap up sold-off casinos

Las Vegas Review-JournalThe future of Las Vegas gaming is taking shape even as the economy shakes up the casino industry.http://www.lvrj.com/r?19=961&43=192622&44=44667632&32=4051&7...

GPT seeks $1.7b to bolster balance sheet

Sky News AustraliaGPT Property wants to raise up to $1.http://www.skynews.com.au/business/article.aspx?id=329778

Global recession hits Indian auto industry

Sunday ObserverGlobal recession has devastated the global auto industry with pinching effects on the Indian auto industry. India is a strong and growing economy but the hit of recession has put red marks on the entire balance sheet of the Indian economy.http://www.sundayobserver.lk/2009/05/10/new26.asp

News about Balance Sheet

How Risky Is the Fed Balance Sheet? 1 comment

Seekingalpha.comThe simple answer to this question is, "No one knows." The Central Bank's balance sheet now stands at $2.2 trillion -- more than doubled since September, 2008. In all, the Fed has created 11 lending programs to combat the credit crisis, but few ... http://seekingalpha.com/article/134993-how-risky-is-the-fed-...

Orica's Outlook

CNBCThe outlook of Orica will be tough for the next 12 months, but its balance sheet is good, says Stephen Ellis, client advisor at Pattersons Securities. He speaks to CNBC's Karen Tso about the miner's earnings. CNBC's Becky Quick discusses banks ... http://www.cnbc.com/id/15840232?video=1112292571&play=1

Mass Repo Operation Shuts Down RV Dealer

First Coast NewsOwner JC Foreman said despite rebounding sales in recent months, his balance sheet wasn't strong enough to satisfy the bank and the lender wasn't willing to negotiate lower payments. "They're picking it up to take it to auction and get 50 cents (on ... http://www.firstcoastnews.com/news/strange/news-article.aspx...

Financial Winners and Losers: Citigroup

Street.ComMeanwhile, The Associate Press reported Monday that regulators have told Wells Fargo to shore up its balance sheet after the stress test showed the bank would have trouble surviving a deeper recession. The report cited two people familiar with the ... http://www.thestreet.com/story/10495833/2/financial-winners-...

Central Coast tourism industry hit hard by recession

Santa Cruz SentinelNot only is this bad business from a standpoint of a corporate balance sheet," said association executive Susan Gurley, "but it is also bad business for the travel and hospitality industry." An estimated 61 percent of travel managers responding to an ... http://www.santacruzsentinel.com/ci_12336789?source=most_ema...

Search results for Balance Sheet

Balance sheet

This article is part of WikiProject Definitions. Consider editing to improve it. View articles referencing this definition. A balance sheet,http://www.wikinvest.com/wiki/Balance_sheet

Balance Sheet Management Services

Join our mailing list for all of the latest market news:http://bsmservices.com

Balance Sheet - Topics - Forbes.com

I think there will be a little bit of disappointment, but the fact that it's still a low risk play with a very good balance sheet and a very solid business will hold it in...http://topics.forbes.com/balance%20sheet

Balance Sheet | AccountingCoach.com

AccountingCoach.com is a FREE resource for you to gain an understanding of the balance sheet, one of the main financial statements. Learn about the components of the balance sheet ... http://www.accountingcoach.com/online-accounting-course/05Xp...

Balance Sheet - Financial Plan - Writing a Business Plan

How to create a balance sheet for the Financial Plan section of the business plan, including a balance sheet template.http://sbinfocanada.about.com/cs/businessplans/a/bizplanfina...

Wikipedia results for Balance Sheet

Balance sheet - Wikipedia, the free encyclopedia

In financial accounting, a balance sheet or statement of financial position is a summary of a person's or organization's balances. Assets, liabilities and ownership equity are ... http://en.wikipedia.org/wiki/Balance_sheet

Off-balance-sheet - Wikipedia, the free encyclopedia

Off balance sheet (OBS) usually means an asset or debt or financing activity not on the company's balance sheet. It could involve a lease or a separate subsidiary or a contingent ... http://en.wikipedia.org/wiki/Off_balance_sheet_financing

International Financial Reporting Standards - Wikipedia, the free ...

The Framework sets out the statement of financial position (balance sheet) as comprising:-Assets - resources controlled by the entity as a result of past events and from which ... http://en.wikipedia.org/wiki/International_Accounting_Standa...

Insolvency - Wikipedia, the free encyclopedia

An indicator of this on the balance sheet, is if there is "net current liabilities". Balance sheet insolvency - Having negative net assets: liabilities exceed assets; or net ... http://en.wikipedia.org/wiki/Insolvent

Accountancy - Wikipedia, the free encyclopedia

... of accounting involving the collection, recording and extraction of financial information, and the summary of it in the form of a periodic profit and loss account, a balance sheet ... http://en.wikipedia.org/wiki/Ledger_balance
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Answers for Balance Sheet

kittybalance sheet?kittyit is an asset to the company right now.MichaelHow to write a balance sheet and an annual income statement?Michaelask a fellow student. how would we know lol.Stephan WehnerHow does the balance sheet equation work out with regards to amortization?Stephan WehnerThe equity (retained earnings) would go down $30 dollars. The ammortized depreciation is an expense, it is activity by definition. So the company would have $0 income, $30 expense, for a loss of $30, ...susie3738How do you compare the balance sheet of an investment bank to one of a finance company?susie3738Not to worry about the way the balance sheet is presented. They are a few key parameters you might be interested like operating profit, Return on Investment/Equity, Earnings per share, top line growth...Zijuan ZHow can I prepare the Balance Sheet for an organization which has only cash as assets?Zijuan ZZijuan Z, Try finding other methods to get the cash first. Payday loan companies offer a great service, but it's not something just anyone should get invovled with. If you do take a loan, pay it back ...
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