balance sheet

Definition

A quantitative summary of a company's financial condition at a specific point in time, including assets, liabilities and net worth. The first part of a balance sheet shows all the productive assets a company owns, and the second part shows all the financing methods (such as liabilities and shareholders' equity). also called statement of condition.

See also: List of Key Accounting Terms and Definitions at InvestorGuide.com.

Use balance sheet in a sentence

Our balance sheet was in and it told us a few things we needed to know for the future of our company.

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If you want to make sure that your business is always in the best position it can be you should keep a close eye on the balance sheet.

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When I confronted our CEO about the health of our company, he assuaged my fears by showing me our assets and debts on our company's balance sheet.

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