- balance sheet
- /'bæləns ʃi:t/ nouna statement of the financial position of a company at a particular time, such as the end of the financial year or the end of a quarter, showing the company’s assets and liabilities● Our accountant has prepared the balance sheet for the first half-year.● The company balance sheet for the last financial year shows a worse position than for the previous year.● The company balance sheet for 1984 shows a substantial loss.COMMENT: The balance sheet shows the state of a company’s finances at a certain date. The profit and loss account shows the movements which have taken place since the end of the previous accounting period. A balance sheet must balance, with the basic equation that assets (i.e. what the company owns, including money owed to the company) must equal liabilities (i.e. what the company owes to its creditors) plus capital (i.e. what it owes to its shareholders). A balance sheet can be drawn up either in the horizontal form, with (in the UK) liabilities and capital on the left-hand side of the page (in the USA, it is the reverse) or in the vertical form, with assets at the top of the page, followed by liabilities, and capital at the bottom. Most are usually drawn up in the vertical format, as opposed to the more old-fashioned horizontal style.
Dictionary of banking and finance. 2015.
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balance sheet — bal·ance sheet n: a statement of financial condition at a given date Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. balance sheet … Law dictionary
Balance sheet — Balance Bal ance (b[a^]l ans), n. [OE. balaunce, F. balance, fr. L. bilanx, bilancis, having two scales; bis twice (akin to E. two) + lanx plate, scale.] 1. An apparatus for weighing. [1913 Webster] Note: In its simplest form, a balance consists… … The Collaborative International Dictionary of English
balance sheet — balance sheets N COUNT A balance sheet is a written statement of the amount of money and property that a company or person has, including amounts of money that are owed or are owing. Balance sheet is also used to refer to the general financial… … English dictionary
balance sheet — n a statement of how much money a business has earned and how much money it has paid for goods and services ▪ a healthy balance sheet … Dictionary of contemporary English
balance sheet — balance ,sheet noun count a written statement showing the value of a company at a particular time … Usage of the words and phrases in modern English
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balance sheet — ► NOUN ▪ a written statement of the assets, liabilities, and capital of a business … English terms dictionary
balance sheet — n. a statement summarizing the financial status of an individual or a business by showing assets, liabilities, etc. at a given date … English World dictionary
Balance sheet — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts … Wikipedia
balance sheet — an important business document that shows what a business owns and owes as of the date shown. Essentially a balance sheet is a list of business assets and their cost on one side and a list of liabilities and owners equity (investment in the… … Financial and business terms
Balance sheet — Also called the statement of financial condition, it is a summary of the assets, liabilities, and owners equity. The New York Times Financial Glossary * * * balance sheet ˈbalance ˌsheet noun [countable] ACCOUNTING a document showing a company s… … Financial and business terms