BizTerm Definition
Balance Sheet
Full Definition

A reporting of the financial position of a business at a particular point in time. Also known as a "Statement of Financial Position." This statement of a company's assets, liabilities, and owners' equity is prepared according to GAAP. More specifically, it highlights a company's cash on hand, its loans, what it has yet to be paid for (receivables), and how much inventory it has on hand.

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