Def - Balance Sheet

Owned by Tom Williams
Last updated: Nov 19, 2020

A Balance Sheet is a snapshot of the financial position of a company at a specified time, usually calculated after every month/fiscal period, quarter, or year. The Balance Sheet has two main sections: 1) Assets and 2) Liabilities & Equity. When this formula is true, the Balance Sheet is in balance:

[Assets] = [Liabilities] + [Equity].