Accounting Dictionary - Letter B

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Balance sheet
(also called statement of financial position) shows an entity's financial position at the end of an accounting period. The accounting equation for the balance sheet is Assets = Liabilities + Equity. Asset and liability items on the balance sheet can be grouped into the following categories: current assets, current liabilities, non-current assets, and non-current liabilities.
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