Changes

The '''balance sheet''' summarizes the financial balances of the entity.

The '''balance sheet''' summarizes the financial balances of the entity.

Assets are listed first, followed by liabilities; the difference between the two is the '''equity''' or '''net worth''' of the entity.

[[Asset]]s are listed first, followed by [[liabilities]]; the difference between the two is the '''[[equity]]''' or '''net worth''' of the entity.

Assets and liabilities are classified as '''current''' and '''non-current'''.

Assets and liabilities are classified as '''current''' and '''non-current'''.