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Basic G Balance Sheet Spirituality Personal Finance Bookkeeping Business Small Concepts Simple

Worksheet Details

  • CategoryBalance Sheet.
  • TopicBasic accounting balance sheet.
  • AuthorAlice Garran
  • PostedThu, Aug 29th 2019 14:23 PM
  • Formatjpg/jpeg

You may be wondering why you, as an individual, may need a personal balance sheet. The answer is that it’s an accurate and timely tool for measuring your financial worth and thinking about what changes you can take to enhance it.

The balance sheet, also called the statement of financial position, is the third general purpose financial statement prepared during the accounting cycle. It reports a company’s assets, liabilities, and equity at a single moment in time. You can think of it like a snapshot of what the business looked like on that day in time.

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