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.
What is the balance sheet? The balance sheet is one of the three fundamental financial statements. These statements are key to both financial modeling and accounting. The balance sheet displays the companyâs total assets, and how these assets are financed, through either debt or equity. The balance sheet is also related to the fundamental equation: Assets = Liabilities + Equity. As such, the balance sheet is divided into two sides. The left side of the balance sheet outlines all a companyâs assets. On the right side, the balance sheet outlines the companies liabilities and equities. On either side, the main line items are generally classed by liquidity.