Definition of ‘Balance Sheet’
The balance sheet is one of the three main accounting statements and shows the financial position of a business at a given point in time, normally the month end or the year end.
The balance sheet must always balance with the assets less the liabilities of a business being equal to the equity of the business.
Financial Projections Template Balance Sheet Definition
The balance sheet in the financial projections template, is the second statement shown and sets out the financial position of the business at the end of each year for each of the five years.
The balance sheet shows how the net assets (assets less liabilities) of the business are equal to the equity of the business.
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