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KeBoto - Company Balance Sheet US Letter 000142

In financial accounting, a Balance Sheet emplates or statement of financial position is a summary of the financial balances of a sole proprietorship, a business partnership, a corporation or other business organization, such as an LLC or an LLP. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year. A Balance Sheet emplates is often described as a “snapshot of a company’s financial condition”. Of the three basic financial statements, the Balance Sheet emplates is the only statement which applies to a single point in time of a business’ calendar year.