Difference between revisions of "Balance sheet"
(→Definitions) |
|||
| Line 1: | Line 1: | ||
| − | [[Balance sheet]] ( | + | [[Balance sheet]] (alternatively known as [[statement of financial position]]; hereinafter, the ''Statement'') is a financial statement, as of a particular date, that shows the amount of assets owned by an organization as well as the amount of claims ([[liabilities]] and [[owner's equity]]) against these assets. |
Revision as of 15:00, 15 December 2018
Balance sheet (alternatively known as statement of financial position; hereinafter, the Statement) is a financial statement, as of a particular date, that shows the amount of assets owned by an organization as well as the amount of claims (liabilities and owner's equity) against these assets.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Balance sheet (also known as statement of financial position). A financial statement, as of a particular date, that shows the amount of assets owned by an organization as well as the amount of claims (liabilities and owner's equity) against these assets.
Related concepts
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
