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Balance Sheet

Sage

A balance sheet is a statement of the total assets and liabilities of an organisation at a particular date - usually the last date of an accounting period. The balance sheet is split into two parts: (1) A statement of fixed assets, current assets and the liabilities (2) A statement showing how the Net Assets have been financed. The Companies Act requires the balance sheet to be included in the published financial accounts of all companies. A balance sheet does not necessarily "value" a company

 

Balance Sheet

Balance Sheet
Period
Year To Date
Fixed Assets
Office Equipment
Furniture & Fixtures
Current Assets
Debtors
Bank Account
Current Liabilities
Creditors:Short Term
Taxation
Credit Card (Creditors)
Bank Account
VAT Liability
Current Assets Less Current Liabilities
Tota Assets Less Current Liabilities
Long Term Liabilites
Total Assets Less Total Liabilites
Capital & Reserves
Reserves
P&L Account
P&L Account

Notes: When viewing Balance Sheets, "Period" normally refers to the current financial accounting period up-to an including the time the accounts were prepared.

This excercise is to provide you with an interactive tool to plan your enterprise & understand the basics of financial accounting and the various terms and reference of good business practices.

For accountancy & bookkeeping software, please visit sage.co.uk




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