Balance Sheet

Definition of 'Balance Sheet'
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A balance sheet is a statement of assets, liabilities, and capital at a moment in time. While “sheet” may be outdated now, there was once a physical piece of paper that contained a snapshot of a company’s health. What’s being “balanced” on this sheet are assets on one side of the equation and liabilities plus shareholder equity on the other side of the equation. Both sides must be in accordance.