What Is a Balance Sheet? A balance sheet is a financial statement that shows what a company owns, what it owes, and the amount invested by shareholders at a specific point in time. The...
A balance sheet is a financial statement that shows what a company owns, what it owes, and the value left for owners at a specific date, giving you a quick snapshot of the company’s financial position.
Here's what you need to know to understand how balance sheets work and what makes them a business fundamental, as well as steps you can take to create a basic balance sheet for your organization.