Balance Sheet

From Conservapedia

A balance sheet is a fundamental accounting statement that provides a 'snapshot' of an entity's assets, liabilities and equity at a point in time.

It is called such as the total assets are equal to the total liabilities plus equity.

Any meaningful analysis of a company's finances must include a review of the balance sheet, income statement and statement of changes in financial position.

However, certain meaningful ratios can be gleaned from the balance sheet alone, such as Debt/Equity ratio, Working Capital ratio.

Fundamental to proper balance sheet preparation is a rigorous "cut-off". That is, if a balance sheet has a date of November 30, it must not include cash received on December 1.