BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A balance sheet is a financial statement that contains details of a company’s assets or liabilities at a specific point in time. It is one of the three core financial statements (income statement and cash flow statement being the other two) used for evaluating the performance of a business.

Detailed explanation-2: -A balance sheet is a financial statement that reports a company’s assets, liabilities, and shareholder equity. The balance sheet is one of the three core financial statements that are used to evaluate a business. It provides a snapshot of a company’s finances (what it owns and owes) as of the date of publication.

Detailed explanation-3: -Overview: The balance sheet-also called the Statement of Financial Position-serves as a snapshot, providing the most comprehensive picture of an organization’s financial situation. It reports on an organization’s assets (what is owned) and liabilities (what is owed).

Detailed explanation-4: -The balance sheet provides a picture of the financial health of a business at a given moment in time. It lists all of your business’s assets and liabilities. You can then find out what your net assets are at that time.

Detailed explanation-5: -A balance sheet is a statement of a business’s assets, liabilities, and owner’s equity as of any given date. Typically, a balance sheet is prepared at the end of set periods (e.g., every quarter; annually). A balance sheet is comprised of two columns. The column on the left lists the assets of the company.