LeoGlossary: Balance Sheet

4 mo (edited)
1 Min Read
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How to get a Hive Account

A financial document that lists assets, liabilities, and owner equity. This is essentially a snapshot in time i.e. as of the end of business on December 31st.

Overall, it is a statement of a company (or individual) owes and is owed.

This is one of the most basic financial documents in the business world. All reporting companies update their balances sheets when filing their quarterly and annual reports.

It is a tool for investors to determine the value of an entity.

The basic formula is:

Assets = Liabilities + Equity


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