What is balance sheet?
It’s basically a accounting term, Balance Sheet is a sheet in which all the transaction of financial character
of a corporation are been noted which incorporates assets, liabilities, equity capital, total debt, etc. at a degree in time. Record includes assets on one facet, and liabilities on the opposite. For the record to replicate true image, each heads (liabilities & assets) ought to tally (Assets = Liabilities + Equity).
record is a lot of sort of a snap of the monetary position of a corporation at such as time, typically calculated once quarterly, six months or one year. Record has 2 main heads -assets and liabilities.