What is balance sheet

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amr hassan

  • May 8th, 2008
 

balance sheet is the fainancial statement showing the financial position of an enterprise by summarizing its assets . liabilities and owner equity at apoint in time . also called the statment of fainancial position .

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subbop

  • Feb 12th, 2009
 

A balance sheet is nothing but a statement of financial position of an
organization. It is a summery of organizations balances of Assets, Liabilities
and ownership equity to a specific period, usually for quarter, half year or
Year. Mostly it is for the financial year. Balance sheet shows the financial
condition of the Organization. Balance sheet reflects the financial equation
Assets = Liabilities + stock holder equity or owners equity and are usually
prepared with assets on one side and liabilities and net worth (Revenues -
Expenditure) on the other side with the two side “balancing”.

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