Business & ManagementIB

The balance sheet

The balance sheet...The Balance Sheet is the last step in final accounts creation. It is a statement that consists of transactions recorded under two sides, namely, assets and liabilities...
The balance sheet


The balance sheet


  • Balance sheets are static, and so the financial position of a firm may be largely different every day.
  • Figures are not completely accurate, the value of fixed assets can only be known once they are sold.
  • Since there is no specific format globally, it may be difficult to compare balance sheets with competitors.
  • Not all assets are included in balance sheets, including intangible assets and the value of human capital.

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