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3 Tutorials that teach Balance Sheet
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Balance Sheet

Balance Sheet

Author: Virginia Coco
Description:
In this lesson, the student will learn how to prepare balance sheet.
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Tutorial

Notes on "Balance Sheet"

Terms to Know

Financial Statements

Reports providing financial information about a business at a given time.

Balance Sheet

A financial statement that provides information about the assets, liabilities and equity of a business at a given time.

Accounting Equation

A fundamental premise in accounting which states that a company's assets will be equal to the sum of its liabilities and its equity (Assets = Liabilities + Equity).

Assets

Physical or non-physical resources owned by an organization that have economic value.

Liabilities

Debts and other financial responsibilities of an organization.

Equity

The remaining value once liabilities are subtracted from assets.

Source: All images created by Virginia Coco