balance sheet

balance sheet
A statement of the total assets and liabilities of an organization at a particular date, usually the last day of the accounting period The first part of the statement lists the fixed and current assets and the liabilities, whereas the second part shows how they have been financed; the totals for each part must be equal. Under the UK Companies Act the balance sheet is one of the primary statements to be included in the annual accounts of a company. The Companies Act requires that the balance sheet of a company must give a true and fair view of its state of affairs at the end of its financial year, and must comply with statute as to its form and content. A balance sheet does not necessarily value a company, as some assets may be given an unrealistic value and important intangible assets may be omitted altogether (see asset value per share; book value). It can be difficult to compare the balance sheets of companies from different countries as they may disclose different information.

Big dictionary of business and management. 2014.

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  • balance sheet — bal·ance sheet n: a statement of financial condition at a given date Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. balance sheet …   Law dictionary

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  • balance sheet — balance sheets N COUNT A balance sheet is a written statement of the amount of money and property that a company or person has, including amounts of money that are owed or are owing. Balance sheet is also used to refer to the general financial… …   English dictionary

  • balance sheet — n a statement of how much money a business has earned and how much money it has paid for goods and services ▪ a healthy balance sheet …   Dictionary of contemporary English

  • balance sheet — balance ,sheet noun count a written statement showing the value of a company at a particular time …   Usage of the words and phrases in modern English

  • balance sheet — [n] financial statement including gains and losses for a period account, annual report, assets and liabilities, budget, ledger, report; concepts 271,332 …   New thesaurus

  • balance sheet — ► NOUN ▪ a written statement of the assets, liabilities, and capital of a business …   English terms dictionary

  • balance sheet — n. a statement summarizing the financial status of an individual or a business by showing assets, liabilities, etc. at a given date …   English World dictionary

  • Balance sheet — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …   Wikipedia

  • balance sheet — an important business document that shows what a business owns and owes as of the date shown. Essentially a balance sheet is a list of business assets and their cost on one side and a list of liabilities and owners equity (investment in the… …   Financial and business terms

  • Balance sheet — Also called the statement of financial condition, it is a summary of the assets, liabilities, and owners equity. The New York Times Financial Glossary * * * balance sheet ˈbalance ˌsheet noun [countable] ACCOUNTING a document showing a company s… …   Financial and business terms

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