synonyms of balance sheet
2007-02-07 18:05:31 · 4 answers · asked by dauda w 1 in Business & Finance ➔ Other - Business & Finance
A balance sheet is one of the financial statements (e.g. income statement, cash flow statement, reconciliation of retained earnings). It records the accounts for assets, liabilities and owners' equity.
Synonyms include "statement of condition" and "statement of financial position"
2007-02-07 18:23:37 · answer #1 · answered by csanda 6 · 0⤊ 0⤋
In formal bookkeeping and accounting, a balance sheet is a statement of the book ... A balance sheet is often described as a "snapshot" of the company's
A balance sheet is a snapshot of a business’ financial condition at a specific moment in ... A balance sheet comprises assets, liabilities, and owners’
try this on www.businesstown.com/accounting/basic
2007-02-07 18:38:57 · answer #2 · answered by suresh b 3 · 0⤊ 0⤋
G'day Rahim Jahar, Thank you for your question. A balance sheet can't do anything but balance. It shows the assets, the liabilities (money it owes) and shareholder equity which is the balance of the two. According to Investopedia: "The balance sheet must follow the following formula: Assets = Liabilities + Shareholders' Equity" Ideally, the level of shareholders (or stockholders) equity as compared to liabilities on the right side of the balance sheet is relatively high. A company where assets is equal to liabilities is on the verge of insolvency. Regards
2016-05-24 05:52:24 · answer #3 · answered by Anonymous · 0⤊ 0⤋
this is the statement of financial position. it is the current status of all your properties and liabilities.
2007-02-07 20:43:17 · answer #4 · answered by sterling 2 · 0⤊ 0⤋