Learn How To Read A Balance Sheet Within 5 Minutes! Short Article! (#16)

What A Balance Sheet Basically Is?

A balance sheet basically shows a state of a Company/Business. It is basically a progress report. A Balance Sheet is issued every year or every 6 months depending on the business management, itself. A Balance Sheet is issued in order to record all of the profits & losses, a company have faced/made in the past Business year!

Remember, a Balance Sheet always shows the past performance of the Company/Business!

Reading A Balance Sheet!

There are always 3 main sections of a balance sheet -
Assets
Liabilities
Equity

This is how a balance sheet looks like— (image.... Example of Balance Sheet)

& by it's labels you might have an idea of what does a specific section really means & does!

Anyways so, Assets here refers towards the things the Company/Business owns or uses. Such as— machinery, even the desks, computers, etc.

Liabilities are the things the Company/Business owes to others. Like— maybe a business loan that is to be payed back, etc.

Equity is basically the owners money/share holders money/part! You know, as we know share holders own a part of the company!

Remember that, Assets = Liabilities + Equity. So if the total value of Assets is equal to the entire value of both Liabilities & Equity (added). Then, we can say that the Balance Sheet is in balance.

& now y'all go to the balance sheet image provided & try to read it & understand about that particular business!

So there is nothing much to do. One is just supposed to know that what certain sections of a Balance Sheet means & what type of information do they carry 'bout the business!

Anyways, I hope you knwo how to read a Balance Sheet now!

Thanks For Reading!

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