4 Balance sheet
‘We tend to focus on assets and forget about debts.’
Suze Orman, financial adviser, author and American media personality
In a nutshell
The balance sheet is one of the primary financial statements prepared by a company. It shows a company’s financing structure and financial position at a point in time.
The balance sheet presents a picture of a company’s assets and liabilities, together with the shareholders’ stake in the company. It can be used to assess both liquidity and solvency.
The balance sheet is also known as the statement of financial position.
Need to know 
The balance sheet is a ‘snapshot’ of the business’s assets ...
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