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Balance Sheet Basics. Your balance sheet (sometimes called a statement of financial position) provides a snapshot of your practice's financial status at a particular point in time. This financial statement details your assets, liabilities and equity, as of a particular date. Although a balance sheet can coincide with any date, it is usually prepared at the end of a reporting period, such as a month, quarter or year.
C2 also bank statement a record of the amounts of money paid into and taken out of your bank account during a particular period of time. More examples. 1  My original statement has been completely distorted by the media.  The statement said there would be no end to the violence until the terrorists' demands were met.