Balance Sheet Report
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The Balance Sheet Report is a snapshot of the overall financial position of the business at a point in time (i.e. the reporting date). By contrast, the Profit and Loss Report is for a standard period such as month, quarter or year. In isolation, this report cannot provide any indication of trends.
The report is the total of all Balance Sheet Accounts transactions from the start of the Financial Year to the reporting date and shows:
The total of these major sections should be zero because this report obeys the rule:
Assets = Liabilities + Equity
This report indicates how much the business is worth and may be used to calculate:
Also see the list of other Finance Reports.