Balance Sheet

A statement of the firm’s financial position at a specific point in time.

A firm’s balance sheet shows its assets on the left-hand side and its liabilities and stockholders’ equity, or claims against assets, on the right-hand side.

Also called a statement of financial position.

• Common Stockholders’ Equity (Net Worth)
• Current Liabilities
• Inventories
• Long-term Assets
• Long-term Liabilities
• Short-term Liquid Assets
• Total Equity