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4 Cards in this Set
- Front
- Back
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Define Balance sheet |
Statement of financial position, presents a business's financial position/condition at the end of a specified date. |
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Purpose of a balance sheet |
Allows someone like a creditor to see what the business owns and owes to other parties at that time period. Allows bankd to determine whether or not a company qualifies for additional credit/loan. |
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Who is interested in looking at the balance sheet of a firm? |
Banks, current/potential investors , company management, suppliers ,some customers |
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What is included in a balance sheet? |
Current assets Non-current assets Credit liabilities Current liabilities Non-current liabilities Equity |
