Balance Sheet

A Balance Sheet is a financial statement that provides a snapshot of a company’s financial position at a specific point in time. It is divided into two main sections:

1. Assets: What the company owns, including current assets (cash, receivables) and non-current assets (property, equipment).
2. Liabilities: What the company owes, such as short-term and long-term debts.
3. Equity: The difference between assets and liabilities, representing the owners' stake in the company.