Balance Sheet
Shows the status of an entity’s assets, liabilities and owner’s equity at a
point in time, usually the close of a month.
• A Balance Sheet provides a snapshot of the entity’s financial position,
including the cumulative results of the Income Statement and Cash
Flow Statement, at a point in time.
• Also referred to as ‘Statement of Financial Position’.
Shows the status of an entity’s assets, liabilities and owner’s equity at a
point in time, usually the close of a month.
• A Balance Sheet provides a snapshot of the entity’s financial position,
including the cumulative results of the Income Statement and Cash
Flow Statement, at a point in time.
• Also referred to as ‘Statement of Financial Position’.
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