Balance Sheet

Financial Term

The Balance Sheet is one of the three basic accounting financial statements used to summarize how well a business is doing financially. It shows at a particular moment in time what the business owns, what it owes, and therefore its net worth. In accounting terms that is the organization’s assets, liabilities, and owners’ equity.

Banks, investors and other sources of financing pay a lot of attention to the balance sheet of existing businesses, yet young companies often do not.

Don Gooding

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