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 sheets are prepared with either one or two columns, with assets first, followed by liabilities and net worth. Identify the elements of a properly formatted balance sheet. Balance sheets are usually prepared at the close of an accounting period, such as month-end, quarter-end, or year-end.