Assets Liabilities and Equity

There are three elements to a balance sheet, assets, liabilities, and equity. The three elements together must satisfy the accounting equation for the balance sheet to balance.

Last modified February 1st, 2023 by Michael Brown
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Basic Balance Sheet Statement

A basic balance sheet is an accounting statement of the financial position of a business at a specific point in time. It is normally drawn up at the end of the financial year or for management accounts on a monthly basis.

Last modified June 7th, 2022 by Michael Brown
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