BALANCE SHEET

BUSINESS GLOSSARY 2022 SERIES

Unique Business Ideas

DEFINITION

Unique Business Ideas

A financial statement that contains assets & liabilities for a set period

BALANCE SHEET FORMAT

Unique Business Ideas

Assets

Liabilities

Current

Non Current

Non Current

Current

MOST PRACTICED FORMATS

Unique Business Ideas

Classified

Common

Comparative

Vertical

IMPORTANT ELEMENTS

Unique Business Ideas

Assets

Liabilities

Equity

Assets = Liabilities + Owner's Equity

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ASSETS

Unique Business Ideas

CASH

INVENTORY

PROPERTY

LIABILITIES

Unique Business Ideas

LOAN

WAGES

TAXES

UTILITIES

RENTS