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financial accounting Financial accounting is the field of accounting Accounting or Accountancy is the measurement, processing, and communication of financial and non financial information about economic entity, economic entities such as businesses and corporat ...
, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a
sole proprietorship A sole proprietorship , also known as a sole tradership, individual entrepreneurship or proprietorship, is a type of enterprise owned and run by one person and in which there is no legal distinction between the owner and the Types of business ent ...
, a
business partnership Business is the activity of making one's living or making money by producing or buying and selling products (such as goods and services). Simply put, it is "any activity or enterprise entered into for profit." Having a business name A trade ...

business partnership
, a
corporation A corporation is an organization—usually a group of people or a company—authorized by the State (polity), state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal ...

corporation
,
private limited company A private limited company is any type of business entity in Privately held company, "private" ownership used in many jurisdictions, in contrast to a Public company, publicly listed company, with some differences from country to country. Examples ...
or other organization such as
government A government is the system or group of people governing an organized community, generally a state State may refer to: Arts, entertainment, and media Literature * ''State Magazine'', a monthly magazine published by the U.S. Departmen ...
or not-for-profit entity.
Asset In financial accounting Financial accounting is the field of accounting Accounting or Accountancy is the measurement, processing, and communication of financial and non financial information about economic entity, economic entities such a ...
s,
liabilities Liability may refer to: Law * Legal liability, in both civil and criminal law ** Public liability, part of the law of tort which focuses on civil wrongs ** Product liability, the area of law in which manufacturers, distributors, suppliers, re ...
and
ownership equity In finance, equity is ownership of asset In financial accounting Financial accounting is the field of accounting Accounting or Accountancy is the measurement, processing, and communication of financial and non financial information ab ...
are listed as of a specific date, such as the end of its financial year. A balance sheet is often described as a "snapshot of a company's financial condition". Of the four basic
financial statement Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to un ...
s, the balance sheet is the only statement which applies to a single point in time of a business' calendar year. A standard company balance sheet has two sides: assets on the left, and financing on the right–which itself has two parts; liabilities and ownership equity. The main categories of assets are usually listed first, and typically in order of
liquidity Liquidity is a concept in economics involving the convertibility of assets and obligations. It can include: * Market liquidity In business Business is the activity of making one's living or making money by producing or buying and selling ...
. Assets are followed by the liabilities. The difference between the assets and the liabilities is known as equity or the net assets or the
net worth Net worth is the value of all the non-financial and financial asset In financial accountancy, financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that c ...
or
capital Capital most commonly refers to: * Capital letter Letter case (or just case) is the distinction between the letters that are in larger uppercase or capitals (or more formally ''majuscule'') and smaller lowercase (or more formally ''minusc ...
of the company and according to the
accounting equation The fundamental accounting equation, also called the balance sheet equation, represents the relationship between the assets, liability (accounting), liabilities, and Equity (finance), owner's equity of a person or business. It is the foundation for ...
, net worth must equal assets minus liabilities. Another way to look at the balance sheet equation is that total assets equals liabilities plus owner's equity. Looking at the equation in this way shows how assets were financed: either by borrowing money (liability) or by using the owner's money (owner's or shareholders' equity). Balance sheets are usually presented with assets in one section and liabilities and net worth in the other section with the two sections "balancing". A business operating entirely in cash can measure its profits by withdrawing the entire bank balance at the end of the period, plus any cash in hand. However, many businesses are not paid immediately; they build up inventories of goods and they acquire buildings and equipment. In other words: businesses have
asset In financial accounting Financial accounting is the field of accounting Accounting or Accountancy is the measurement, processing, and communication of financial and non financial information about economic entity, economic entities such a ...
s and so they cannot, even if they want to, immediately turn these into cash at the end of each period. Often, these businesses owe money to suppliers and to tax authorities, and the proprietors do not withdraw all their original capital and profits at the end of each period. In other words, businesses also have
liabilities Liability may refer to: Law * Legal liability, in both civil and criminal law ** Public liability, part of the law of tort which focuses on civil wrongs ** Product liability, the area of law in which manufacturers, distributors, suppliers, re ...
.


Types

A balance sheet summarizes an organization or individual's assets, equity and liabilities at a specific point in time. Two forms of balance sheet exist. They are the report form and account form. Individuals and small businesses tend to have simple balance sheets. Larger businesses tend to have more complex balance sheets, and these are presented in the organization's
annual report An annual report is a comprehensive report on a company's activities throughout the preceding year. Annual reports are intended to give shareholders and other interested people information about the company's activities and financial performance. Th ...
. Large businesses also may prepare balance sheets for segments of their businesses. A balance sheet is often presented alongside one for a different point in time (typically the previous year) for comparison.


Personal

A personal balance sheet lists current assets such as cash in
checking account A transaction account, also called a checking account, chequing account, current account, demand deposit Demand deposits or non-confidential money are funds held in demand account A transaction account, also called a checking account, chequ ...
s and
savings account A savings account is a at a . Common features include a limited number of withdrawals, a lack of cheque and linked facilities, limited transfer options, and the inability to be overdrawn. Traditionally, transactions on savings accounts were w ...
s, long-term assets such as
common stock Common stock is a form of corporate equity Equity may refer to: Finance, accounting and ownership *Equity (finance), ownership of assets that have liabilities attached to them ** Stock, equity based on original contributions of cash or other va ...
and
real estate Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more genera ...

real estate
, current liabilities such as
loan In finance Finance is the study of financial institutions, financial markets and how they operate within the financial system. It is concerned with the creation and management of money and investments. Savers and investors have money avai ...
debt and
mortgage A mortgage loan or simply mortgage () is a loan In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations etc. The recipient (i.e., the borrower) incurs a ...
debt due, or overdue, long-term liabilities such as
mortgage A mortgage loan or simply mortgage () is a loan In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations etc. The recipient (i.e., the borrower) incurs a ...
and other loan debt. Securities and real estate values are listed at
market value Market value or OMV (Open Market Valuation) is the price A price is the (usually not negative) quantity Quantity is a property that can exist as a multitude or magnitude, which illustrate discontinuity and continuity. Quantities ca ...
rather than at
historical cost In accounting Accounting or Accountancy is the measurement, processing, and communication of financial and non financial information about economic entity, economic entities such as businesses and corporations. Accounting, which has been called ...
or
cost basis Basis (or cost basis), as used in United States tax law The United States, United States of America has separate Federal government of the United States, federal, U.S. state, state, and Local government in the United States, local governments with ...
. Personal
net worth Net worth is the value of all the non-financial and financial asset In financial accountancy, financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that c ...
is the difference between an individual's total assets and total liabilities.


US small business

A small business balance sheet lists current assets such as cash,
accounts receivable Accounts receivable, abbreviated as AR or A/R, are legally enforceable claims for payment held by a business for goods supplied or services rendered that customers have ordered but not paid for. These are generally in the form of invoices An in ...
, and
inventory Inventory () or stock () refers to the goods and materials that a holds for the ultimate goal of resale, production or utilisation. is a discipline primarily about specifying the shape and placement of stocked goods. It is required at differen ...
, fixed assets such as land, buildings, and equipment,
intangible asset An intangible asset is an asset In financial accountancy, financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive econom ...
s such as
patent A patent is a type of intellectual property Intellectual property (IP) is a category of property Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves. Depe ...

patent
s, and liabilities such as
accounts payable Accounts payable (AP) is money owed by a business to its suppliers shown as a liability on a company's balance sheet. It is distinct from notes payable liabilities, which are debts created by formal legal instrument documents. Overview An accounts ...
, accrued expenses, and long-term debt.
Contingent liabilities Contingent liabilities are Liability (financial accounting), liabilities that may be incurred by an entity depending on the outcome of an uncertain future event such as the outcome of a pending lawsuit. These liabilities are not recorded in a compa ...
such as
warranties In contract law, a warranty is a promise which is not a condition of the contract or an innominate term: (1) it is a term "not going to the root of the contract", and (2) which only entitles the innocent party to damages if it is breached: i.e. the ...
are noted in the footnotes to the balance sheet. The small business's equity is the difference between total assets and total liabilities.


Public business entities structure

Guidelines for balance sheets of public business entities are given by the
International Accounting Standards Board The International Accounting Standards Board (IASB) is the independent, accounting standard Publicly traded companies typically are subject to the most rigorous standards. Small and midsized businesses often follow more simplified standards, plus ...
and numerous country-specific organizations/companies. The standard used by companies in the USA adhere to U.S. Generally Accepted Accounting Principles (GAAP). The
Federal Accounting Standards Advisory Board The Federal Accounting Standards Advisory Board (FASAB) is a United States federal advisory committee whose mission is to improve federal financial reporting through issuing federal financial accounting standards and providing guidance after co ...
(FASAB) is a United States federal advisory committee whose mission is to develop generally accepted accounting principles (GAAP) for federal financial reporting entities. Balance sheet account names and usage depend on the organization's country and the type of organization. Government organizations do not generally follow standards established for individuals or businesses. If applicable to the business, summary values for the following items should be included in the balance sheet: Assets are all the things the business owns. This will include property, tools, vehicles, furniture, machinery, and so on.


Assets

Current asset In accounting Accounting or Accountancy is the measurement ' Measurement is the number, numerical quantification (science), quantification of the variable and attribute (research), attributes of an object or event, which can be used to compar ...
s #
Accounts receivable Accounts receivable, abbreviated as AR or A/R, are legally enforceable claims for payment held by a business for goods supplied or services rendered that customers have ordered but not paid for. These are generally in the form of invoices An in ...
#
Cash and cash equivalents Cash and cash equivalents (CCE) are the most liquid current assets found on a business's balance sheet In financial accounting Financial accounting is the field of accounting Accounting or Accountancy is the measurement, processing, and co ...
#
Inventories Inventory (American English American English (AmE, AE, AmEng, USEng, en-US), sometimes called United States English or U.S. English, is the set of varieties of the English language native to the United States. Currently, American English i ...
# Cash at bank, Petty Cash, Cash On Hand # Prepaid expenses for future services that will be used within a year # Revenue Earned In Arrears (Accrued Revenue) for services done but not yet received for the year # Loan To (Less than one financial period)
Non-current assets Fixed assets, also known as long-lived assets, tangible assets or property, plant and equipment (PP&E), is a term used in accounting Accounting or Accountancy is the measurement ' Measurement is the number, numerical quantification (scienc ...
(
Fixed asset Fixed assets, also known as long-lived assets, tangible assets or property, plant and equipment (PP&E), is a term used in accounting for assets and property that cannot easily be converted into cash. Fixed assets are different from current asset ...
s) #
Property, plant and equipment Fixed assets, also known as long-lived assets, tangible assets or property, plant and equipment (PP&E), is a term used in accounting for assets and property that cannot easily be converted into cash. Fixed assets are different than current assets ...
# Investment property, such as
real estate Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more genera ...

real estate
held for investment purposes #
Intangible asset An intangible asset is an asset In financial accounting Financial accounting is the field of accounting Accounting or Accountancy is the measurement, processing, and communication of financial and non financial information about economi ...
s, such as patents, copyrights and goodwill # Financial assets (excluding investments accounted for using the equity method,
accounts receivable Accounts receivable, abbreviated as AR or A/R, are legally enforceable claims for payment held by a business for goods supplied or services rendered that customers have ordered but not paid for. These are generally in the form of invoices An in ...
s, and cash and
cash equivalents Cash and cash equivalents (CCE) are the most liquid current assets found on a business's balance sheet. Cash equivalents are short-term commitments "with temporarily idle cash and easily convertible into a known cash amount". An investment normally ...
), such as notes receivables #
Investments To invest is to allocate money Image:National-Debt-Gillray.jpeg, In a 1786 James Gillray caricature, the plentiful money bags handed to King George III are contrasted with the beggar whose legs and arms were amputated, in the left corner, 17 ...

Investments
accounted for using the
equity method Equity method in accounting is the process of treating investments in associate companies. Equity accounting is usually applied where an investor entity holds 20–50% of the voting stock of the associate company, and therefore has significant infl ...
# Biological assets, which are living plants or animals. Bearer biological assets are plants or animals which bear agricultural produce for harvest, such as apple trees grown to produce apples and sheep raised to produce wool. # Loan To (More than one financial period)


Liabilities

#
Accounts payable Accounts payable (AP) is money owed by a business to its suppliers shown as a liability on a company's balance sheet. It is distinct from notes payable liabilities, which are debts created by formal legal instrument documents. Overview An accounts ...
# Provisions for warranties or court decisions (contingent liabilities that are both probable and measurable) # Financial liabilities (excluding provisions and
accounts payable Accounts payable (AP) is money owed by a business to its suppliers shown as a liability on a company's balance sheet. It is distinct from notes payable liabilities, which are debts created by formal legal instrument documents. Overview An accounts ...
s), such as
promissory note A promissory note, sometimes referred to as a note payable, is a legal instrument ''Legal instrument'' is a legal Law is a system of rules created and law enforcement, enforced through social or governmental institutions to regulate behav ...
s and
corporate bond A corporate bond is a bond Bond or bonds may refer to: Common meanings * Bond (finance) In finance Finance is the study of financial institutions, financial markets and how they operate within the financial system. It is concerned with ...
s # Liabilities and assets for current
tax A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity In law Law is a system A system is a group of Interaction, interacting or interrelated elements that act accord ...
#
Deferred tax Deferred tax is a notional asset or liability to reflect corporate income taxation on a basis that is the same or more similar to recognition of profits than the taxation treatment. Deferred tax liabilities can arise as a result of corporate tax ...
liabilities and deferred tax assets # Unearned revenue for services paid for by customers but not yet provided # Interests on loan stock Creditors equity


Equity / capital

The net assets shown by the balance sheet equals the third part of the balance sheet, which is known as the
shareholders' equity In finance, equity is ownership of asset In financial accounting Financial accounting is the field of accounting Accounting or Accountancy is the measurement, processing, and communication of financial and non financial information ab ...
. It comprises: # Issued capital and
reserves Reserve or reserves may refer to: Places * Reserve, Kansas, a US city * Reserve, Louisiana, a census-designated place in St. John the Baptist Parish * Reserve, Montana, a census-designated place in Sheridan County * Reserve, New Mexico, a US vil ...
attributable to equity holders of the
parent company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...
(controlling interest) #
Non-controlling interest In accounting, minority interest (or non-controlling interest) is the portion of a subsidiary corporation's stock that is not owned by the parent corporation. The magnitude of the minority interest in the subsidiary company is generally less than 50 ...
in equity Formally, shareholders' equity is part of the company's liabilities: they are funds "owing" to shareholders (after payment of all other liabilities); usually, however, "liabilities" is used in the more restrictive sense of liabilities excluding shareholders' equity. The balance of assets and liabilities (including shareholders' equity) is not a coincidence. Records of the values of each account in the balance sheet are maintained using a system of accounting known as
double-entry bookkeeping Double-entry bookkeeping, also known as, double-entry accounting, is a method of bookkeeping Bookkeeping is the recording of financial transactions, and is part of the process of accounting Accounting or Accountancy is the measureme ...
. In this sense, shareholders' equity by construction must equal assets minus liabilities, and thus the shareholders' equity is considered to be a residual. Regarding the items in equity section, the following disclosures are required: # Numbers of
shares In financial markets A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known ...
authorized, issued and fully paid, and issued but not fully paid #
Par value Par value, in finance Finance is a term for the management, creation, and study of money In a 1786 James Gillray caricature, the plentiful money bags handed to King George III are contrasted with the beggar whose legs and arms were ampu ...
of shares # Reconciliation of shares outstanding at the beginning and the end of the period # Description of rights, preferences, and restrictions of shares #
Treasury share A treasury stock or reacquired stock is Share capital, stock which is bought back by the issuing company, reducing the amount of outstanding stock on the open market ("open market" including insiders' holdings). Share repurchase, Stock repurcha ...
s, including shares held by
subsidiaries A subsidiary, subsidiary company or daughter company is a company A company, abbreviated as co., is a Legal personality, legal entity representing an association of people, whether Natural person, natural, Legal personality, legal or a mixture ...
and associates # Shares reserved for issuance under
option Option or Options may refer to: Computing *Option key, a key on Apple computer keyboards *Option type, a polymorphic data type in programming languages *Command-line option, an optional parameter to a command *OPTIONS, an Hypertext Transfer Prot ...
s and
contract A contract is a legally binding agreement that defines and governs the rights and duties between or among its parties Image:'Hip, Hip, Hurrah! Artist Festival at Skagen', by Peder Severin Krøyer (1888) Demisted with DXO PhotoLab Clearview ...

contract
s # A description of the nature and purpose of each reserve within owners' equity


Substantiation

Balance sheet substantiation is the
accounting Accounting or Accountancy is the measurement ' Measurement is the number, numerical quantification (science), quantification of the variable and attribute (research), attributes of an object or event, which can be used to compare with other ob ...
process conducted by
business Business is the activity of making one's living or making money by producing or buying and selling products (such as goods and services). Simply put, it is "any activity or enterprise entered into for profit." Having a business name A trad ...

business
es on a regular basis to confirm that the balances held in the primary accounting
system of record A system of record (SOR) or source system of record (SSoR) is a data management term for an information Information can be thought of as the resolution of uncertainty; it answers the question of "What an entity is" and thus defines both its ...
(e.g.
SAP SAP SE () is a German multinational Multinational may refer to: * Multinational corporation, a corporate organization operating in multiple countries * Multinational force, a military body from multiple countries * Multinational state, a sove ...
,
Oracle An oracle is a person or agency Agency may refer to: * a governmental or other institution Institutions, according to Samuel P. Huntington, are "stable, valued, recurring patterns of behavior". Institutions can refer to mechanisms which go ...
, other ERP system's General Ledger) are reconciled (in balance with) with the balance and transaction records held in the same or supporting sub-systems. Balance sheet substantiation includes multiple processes including
reconciliation Reconciliation may refer to: Sociology and politics * Conflict resolution Conflict resolution is conceptualized as the methods and processes involved in facilitating the peaceful ending of conflict and retribution. Committed group members ...
(at a transactional or at a balance level) of the account, a process of review of the reconciliation and any pertinent supporting documentation and a formal
certification Certification is the formal attestation or confirmation of certain characteristics of an object, person, or organization. This confirmation is often, but not always, provided by some form of external review, education, assessment, or audit ...

certification
(sign-off) of the account in a predetermined form driven by corporate policy. Balance sheet substantiation is an important process that is typically carried out on a monthly, quarterly and year-end basis. The results help to drive the regulatory balance sheet reporting obligations of the organization. Historically, balance sheet substantiation has been a wholly manual process, driven by
spreadsheet A spreadsheet is a computer application for organization, analysis, and storage of data in table (information), tabular form. Spreadsheets were developed as computerized analogs of paper accounting Worksheet#Accounting, worksheets. The program op ...

spreadsheet
s,
email upThe email_address.html"_;"title="at_sign,_a_part_of_every_SMTP_email_address">at_sign,_a_part_of_every_SMTP_email_address Electronic_mail_(email_or_e-mail)_is_a_method_of_exchanging_messages_("mail")_between_people_using_electronic_dev ...

email
and manual monitoring and reporting. In recent years
software Software is a collection of instructions Instruction or instructions may refer to: Computing * Instruction, one operation of a processor within a computer architecture instruction set * Computer program, a collection of instructions Music * I ...

software
solutions have been developed to bring a level of process automation,
standardization Standardization or standardisation is the process of implementing and developing technical standards based on the consensus of different parties that include firms, users, interest groups, standards organizations and governments. Standardization ...
and enhanced control to the balance sheet substantiation or account certification process. These solutions are suitable for organizations with a high volume of accounts and/or personnel involved in the Balance Sheet Substantiation process and can be used to drive efficiencies, improve
transparency Transparency, transparence or transparent most often refer to transparency and translucency, the physical property of allowing the transmission of light through a material. They may also refer to: Literal uses * Transparency (photography), a sti ...
and help to reduce risk. Balance sheet substantiation is a key control process in the
SOX 404 top-down risk assessment Sound eXchange (SoX) is a cross-platform In computing Computing is any goal-oriented activity requiring, benefiting from, or creating computing machinery. It includes the study and experimentation of algorithmic processes and development of bot ...
.


Sample

The following balance sheet is a very brief example prepared in accordance with
IFRS International Financial Reporting Standards, commonly called IFRS, are accounting standard Publicly traded companies typically are subject to the most rigorous standards. Small and midsized businesses often follow more simplified standards, plus a ...
. It does not show all possible kinds of assets, liabilities and equity, but it shows the most usual ones. Because it shows goodwill, it could be a consolidated balance sheet. Monetary values are not shown, summary (subtotal) rows are missing as well. Under IFRS items are always shown based on liquidity from the least liquid assets at the top, usually land and buildings to the most liquid, i.e. cash. Then liabilities and equity continue from the most immediate liability to be paid (usual account payable) to the least i.e. long term debt such a mortgages and owner's equity at the very bottom. Consolidated Statement of Finance Position of XYZ, Ltd. As of 31 December 2025 ASSETS Non-Current Assets (
Fixed Asset Fixed assets, also known as long-lived assets, tangible assets or property, plant and equipment (PP&E), is a term used in accounting for assets and property that cannot easily be converted into cash. Fixed assets are different from current asset ...
s)
Property, Plant and Equipment Fixed assets, also known as long-lived assets, tangible assets or property, plant and equipment (PP&E), is a term used in accounting for assets and property that cannot easily be converted into cash. Fixed assets are different than current assets ...
(PPE) ''Less : Accumulated Depreciation'' Goodwill
Intangible Assets An intangible asset is an asset In financial accounting Financial accounting is the field of accounting Accounting or Accountancy is the measurement, processing, and communication of financial and non financial information about economi ...
(Patent, Copyright, Trademark, etc.) ''Less : Accumulated Amortization'' Investments in
Financial assets A financial asset is a non-physical asset In financial accountancy, financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positiv ...
due after one year
Investments To invest is to allocate money Image:National-Debt-Gillray.jpeg, In a 1786 James Gillray caricature, the plentiful money bags handed to King George III are contrasted with the beggar whose legs and arms were amputated, in the left corner, 17 ...
in Associates and
Joint Ventures A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownershipEquity sharing is another name for shared ownership or ''co-ownership (disambiguation), co-ownership''. It takes one property, m ...
Other Non-Current Assets, e.g.
Deferred Tax Deferred tax is a notional asset or liability to reflect corporate income taxation on a basis that is the same or more similar to recognition of profits than the taxation treatment. Deferred tax liabilities can arise as a result of corporate tax ...
Assets, Lease Receivable and Receivables due after one year
Current Asset In accounting Accounting or Accountancy is the measurement ' Measurement is the number, numerical quantification (science), quantification of the variable and attribute (research), attributes of an object or event, which can be used to compar ...
s
Inventories Inventory (American English American English (AmE, AE, AmEng, USEng, en-US), sometimes called United States English or U.S. English, is the set of varieties of the English language native to the United States. Currently, American English i ...
Prepaid Expense A deferral, in '' accrual accounting'', is any account where the income or expense is not recognised until a future date (accounting period An accounting period, in bookkeeping Bookkeeping is the recording of financial transactions, ...
s Investments in
Financial assets A financial asset is a non-physical asset In financial accountancy, financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positiv ...
due within one year Non-Current and Current Assets
Held for sale Mark-to-market (MTM or M2M) or fair value accounting refers to accounting for the "fair value" of an asset or liability based on the current market price, or the price for similar assets and liabilities, or based on another objectively assessed " ...
Accounts Receivable Accounts receivable, abbreviated as AR or A/R, are legally enforceable claims for payment held by a business for goods supplied or services rendered that customers have ordered but not paid for. These are generally in the form of invoices An in ...
(Debtors) due within one year ''Less : Allowances for Doubtful debts''
Cash and Cash Equivalents Cash and cash equivalents (CCE) are the most liquid current assets found on a business's balance sheet In financial accounting Financial accounting is the field of accounting Accounting or Accountancy is the measurement, processing, and co ...
TOTAL ASSETS (this will match/balance the total for Liabilities and Equity below) LIABILITIES and EQUITY Current Liabilities (Creditors: amounts falling due within one year)
Accounts Payable Accounts payable (AP) is money owed by a business to its suppliers shown as a liability on a company's balance sheet. It is distinct from notes payable liabilities, which are debts created by formal legal instrument documents. Overview An accounts ...
Current Income
Tax A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity In law Law is a system A system is a group of Interaction, interacting or interrelated elements that act accord ...
Payable Current portion of Loans Payable Short-term Provisions Other Current Liabilities, e.g.
Deferred incomeDeferred income (also known as deferred revenue, unearned revenue, or unearned income) is, in Accounting methods#Accrual basis, accrual accounting, money received for goods or services which has not yet been earned. According to the revenue recogniti ...
,
Security depositA security deposit is a sum of money held in trust either as an initial part-payment in a purchasing process (often used to prevent the seller selling an item to someone else during an agreed period of time while the buyer verifies the suitability ...

Security deposit
s Non-Current Liabilities (Creditors: amounts falling due after more than one year)
Loan In finance Finance is the study of financial institutions, financial markets and how they operate within the financial system. It is concerned with the creation and management of money and investments. Savers and investors have money avai ...
s Payable Issued Debt Securities, e.g. Notes/Bonds Payable
Deferred Tax Deferred tax is a notional asset or liability to reflect corporate income taxation on a basis that is the same or more similar to recognition of profits than the taxation treatment. Deferred tax liabilities can arise as a result of corporate tax ...
Liabilities Provisions, e.g. Pension Obligations Other Non-Current Liabilities, e.g. Lease Obligations EQUITY Paid-in Capital
Share Capital __NOTOC__ A corporation's share capitalGlossary on Trade Financing Terms - S
in the U ...
( Ordinary Shares, Preference Shares)
Share Premium Capital surplus, also called share premium, is an account which may appear on a corporation A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recogni ...
''Less:
Treasury Share A treasury stock or reacquired stock is Share capital, stock which is bought back by the issuing company, reducing the amount of outstanding stock on the open market ("open market" including insiders' holdings). Share repurchase, Stock repurcha ...
s''
Retained Earnings The retained earnings (also known as plowback) of a corporation A corporation is an organization—usually a group of people or a company—authorized by the State (polity), state to act as a single entity (a legal entity recognized by priva ...
Revaluation Reserve Other Accumulated Reserves Accumulated Other Comprehensive Income
Non-Controlling Interest In accounting, minority interest (or non-controlling interest) is the portion of a subsidiary corporation's stock that is not owned by the parent corporation. The magnitude of the minority interest in the subsidiary company is generally less than 50 ...
TOTAL LIABILITIES and EQUITY (this will match/balance the total for Assets above)


See also

* Balance sheet substantiation * Cash flow statement * Income statement * Minority interest * Model audit * National accounts * Off-balance-sheet * Reformatted balance sheet * wikt:sheet, Sheet * Statement of changes in equity


References

{{DEFAULTSORT:Balance Sheet Balance sheet, Accounting terminology