Balance Sheet
The balance sheet shows the company's financial position at a specific date.
Balance Sheet Components
- Assets:
- Current assets (cash, receivables, inventory)
- Fixed assets (equipment, vehicles, real estate)
- Liabilities:
- Current liabilities (payables, short-term loans)
- Long-term liabilities (long-term loans)
- Equity: Capital + Retained Earnings
Accounting Equation
Assets = Liabilities + Equity