Total BApplicationb as Per Balance Sheet a Form

Instructions and help about Total BApplicationb As Per Balance Sheet A

Welcome back to accounting stuff I'm James and today i'll show you how to make a Balance Sheet   the balance sheet is one of the three main financial statements the other two called the income statement which we did in the last video and the cash flow statement which we'll cover next time a balance sheet or a statement of financial position is a financial report that gives us a snapshot of a business's assets, liabilities and equity at a single point in time now if you've watched my videos before  then you've probably heard this one   the stuff that a business owns is equal to  the stuff that a business owes in other words a business owns assets and it owes liabilities to third parties the difference between the two is called equity which is what the business owes back to its owners and so we have the accounting equation assets are equal to liabilities plus equity when we take a snapshot of this accounting equation at a single point in time we're looking at a balance sheet