A financial statement that summarizes a company's assets, liabilities and shareholders' equity at a specific point in time. These three balance sheet segments give investors an idea as to what the company owns and owes, as well as the amount invested by the shareholders.
The balance sheet must follow the following formula:
Assets = Liabilities + Shareholders' Equity
The Top of the statement communicates 3 things
a. The name of the company
b. The name of the Report
c. The period or Date
The remains of the balance sheet report also contain three section
a. Asset section
b. Liabilities section
c. Owner’s Equity section
It's called a balance sheet because the two sides balance out. This makes sense: a company has to pay for all the things it has (assets) by either borrowing money (liabilities) or getting it from shareholders (shareholders' equity).
Each of the three segments of the balance sheet will have many accounts within it that document the value of each. Accounts such as cash, inventory and property are on the asset side of the balance sheet, while on the liability side there are accounts such as accounts payable or long-term debt. The exact accounts on a balance sheet will differ by company and by industry, as there is no one set template that accurately accommodates for the differences between different types of businesses.
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.
Transtutors.com useful to students achieve a good grades in exams because we provide homework help and assignment help solutions in detail including formulas charts and graphs etc
Transtutors.com provides a detail Balance Sheet and financial statements problematic solutions Finance Homework help and Finance Assignment help
Why only Transtutors.com because Transtutors.com have very good qualified and experience tutors on Essay writing and problem solving on finance homework help &assignments help also Accounting homework help & assignments help.
We provide help to the students regarding Finance homework help and assignment help with in an hour with good quality. Please send all your queries regarding financial stock markets and financial topic to us and we would send it to our best qualified tutors.