Study Notes
Balance Sheet - Introduction
- Level:
- GCSE, AS, A-Level
- Board:
- AQA, Edexcel, OCR, IB
Last updated 22 Mar 2021
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.
You might also like
Balance Sheet (Revision Presentation)
Teaching PowerPoints
Current Liabilities
Study Notes
Non-Current Assets – Property, Plant & Equipment
Study Notes
Current Assets
Study Notes
Working Capital (Net Current Assets)
Study Notes
Introduction to Financial Statements
Study Notes