Collection: Balance Sheet

A balance sheet is a financial statement that shows what a company owns and owes at a specific moment in time. It helps people understand the financial health of the company.

• Assets: These are things the company owns, like cash, buildings, and equipment.
• Liabilities: These are things the company owes, like loans and bills.
• Equity: This is the value left over for the owners after all the debts are paid.

The balance sheet follows the fundamental accounting equation:

Assets = Liabilities + Shareholders' Equity