The Balance Sheet Presents - Thus, it is also called statement of financial position. Web the balance sheet, also called the statement of financial position, is the third general purpose financial statement prepared during the accounting cycle. A balance sheet shows the financial position or condition of the company; A typical balance sheet starts with a heading which consists of three lines. You can think of it like a snapshot of what the business looked like on that day in time. Web explanation and pointers. It reports a company’s assets, liabilities, and equity at a single moment in time.
Web the balance sheet, also called the statement of financial position, is the third general purpose financial statement prepared during the accounting cycle. Web explanation and pointers. Thus, it is also called statement of financial position. A balance sheet shows the financial position or condition of the company; 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. A typical balance sheet starts with a heading which consists of three lines.