Knowing what kinds of tests you may undergo and how those tests work can help reduce stress in a time when you may find yourself facing many new questions. Follow the links below to find out what you can expect as you work with your care team to keep your cardiovascular system as healthy as possible.
BALANCE SHEETS. The balance sheet, also known as the statement of financial position, is a snapshot of a company's financial condition at a single point in time. It presents a summary listing of a company's assets, liabilities, and owners' equity. The balance sheet is prepared as of the last day of the business year. Therefore, it corresponds to the end of the time period covered by the income statement. To understand the balance sheet, its purpose, and its contents, several accounting concepts need to be examined.
Balance Sheet. A balance sheet also known as the statement of financial position tells about the assets, liabilities and equity of a business at a specific point of time. It is a snapshot of a business. A balance sheet is an extended form of the accounting equation.An accounting equation is: Assets = Liabilities + Equity.Assets are the resources controlled by a business, equity is the obligation of the company to its owners and liabilities are the obligations of parties other than owners. balance sheet has two formats: account form and report form. An account form balance sheet is just like a T-account listing assets on the debit side and equity and liabilities on the right hand side. A report form balance sheet lists assets followed by liabilities and equity in vertical format.