Balance Sheet Definition
noun
A statement of a business or institution that lists the assets, debts, and owners' investment as of a specified date.
American Heritage
A statement summarizing the financial status of an individual or a business by showing assets, liabilities, etc. at a given date.
Webster's New World
A financial statement that indicates the value of an entity’s current fiscal situation as of a specific date, consisting of a summary of the value of assets and a summary of the value of its liabilities and the owners’ equity.
Webster's New World Law
(accounting): A summary of a person's or organization's assets, liabilities and equity as of a specific date.
Wiktionary
Synonyms:
- passbook
- bankbook
- liability and asset sheet
- budget
- annual report
Other Word Forms of Balance Sheet
Noun
Singular:
balance sheet
Plural:
balance-sheets
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