balance sheet

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Balance Sheet

A comprehensive financial statement that is a summarized assessment of a company's accounts specifying its assets and liabilities. A report, usually prepared by independent auditors or accountants, which includes a full and complete statement of all receipts and disbursements of a particular business. A review that shows a general balance or summation of all accounts without showing the particular items that make up the several accounts.

balance sheet

n. the statement of the assets and the liabilities (amounts owed) of a business at a particular time usually prepared each month, quarter of a year, annually, or upon sale of the business. It is intended to show the over-all condition of the business. A balance sheet should not be confused with a profit and loss statement, which is an indicator of the current activity and health of the business.

See: budget, ledger, register

balance sheet

a statutory account required by the Companies Acts. The function of a balance sheet (sometimes called a position statement) is to show the financial position of a business at a given date. This is done by showing the assets of the business, its debts and liabilities, and the equity of the owners. It may be subject to audit.

BALANCE SHEET. A statement made by merchants and others to show the true state of a particular business. A balance sheet should exhibit all the balances of debits and credits, also the value of merchandize, and the result of the whole. Vide Bilan.

References in periodicals archive ?
You can see that the report now shows balances from the Beginning Balance Sheet table while using all the same formatting and features we used in our report last month.
But when a large number of economies in the region are engulfed in balance sheet recessions at the same time, and if all of them must abide by the Maastricht limit, a fallacy of composition problem is created which will push the entire region into a deflationary spiral.
Companies generally will need to begin this effort by determining the risk and magnitude of misstatement inherent in each balance sheet account.
dollar income statement and balance sheet reporting, except for entities subject to DASTM or those using the U.
Based on the information from your balance sheet and income statement, an accountant can prepare a statement of cash flows for your company.
The 10 questions bankruptcy lawyers need to be ready to answer from CEOs and CFOs of clients, as well as judges and bank executives, regarding issues that are impacted by the balance sheet
Balance sheet measures, such as days sales outstanding (DSO), use point-in-time accounting measures, which are easily captured and reported but are not completely sufficient for liquidity planning.
Balance sheet recession and its aftermath, the debt rejection syndrome, do not happen very often--only after a nationwide asset price bubble, which is a rare phenomenon in itself.
Lenders and investors, then, have come to place more reliance on the balance sheet.
As firms can move real estate liabilities off the balance sheet (similar to a conventional operating lease) while claiming tax benefits associated with ownership, some accounting experts believe that this is a loophole which will eventually be closed by the Financial Accounting Standards Board.
The reason is that banks, too, found themselves in need of balance sheet restoration after the 1980s.
With more than 300 bank clients nationwide and more than $5 billion retained on bank balance sheets, Intrasweep offers banks a cash sweep solution that generates more core deposits, improves balance sheet liquidity, facilitates local lending and provides strategic cash management solutions for commercial customers.