Study notes

Balance Sheet - Introduction

  • Levels: GCSE, AS, A Level
  • Exam boards: AQA, Edexcel, OCR, IB, Other, Pre-U

The balance sheet provides a summary of the assets and liabilities of a business. It is a snapshot of those assets at a particular moment in time.

The balance sheet always balances because of the use of "double-entry" bookkeeping to record business transactions.

Every transaction in a business always has two equal effects on the assets and liabilities of a business. Some examples are shown below.

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Topic Teaching Resources

Individual teaching resources for delivering specific topics, including teaching instructions.

  • The accountant is a teaching and learning activity that is used to consolidate income statements and ratio analysis.

    £5.00 (+VAT)

    The Accountant
  • ‘What Happened Next’ is a kinaesthetic card activity to consolidate the teaching and learning of balance sheets. The activity can be differentiated making it ideal for a range of ability...

    £5.00 (+VAT)

    What Happened Next?
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