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Statement of Finances Information Sheet Statement of Finances Information Sheet 2017

2017-2025 Form

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In this video, we're going to cover the basics of the balance sheet. It's also called the statement of financial position. This is where many people get confused. I'm going to be honest with you. It confused me for many years. I'm going to explain it with a fun demo. You're going to see what I mean, but before we get to the fun part, let's just cover the theory first. The balance sheet is one of the three main financial statements. The other two are: income statement and cash flow. It's critical to know how to read a balance sheet. If you want to understand the financial health of a business, that's the place to start. So, let's get into it. (relaxed instrumental pop music) The balance sheet looks like this. (laser swoosh) Its purpose is to provide an idea about the company's financial position at a certain point in time. It doesn't show the flows into and out of the accounts during that period. Tha

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