List of balance sheet accounts. A balance sheet is a statement of the financial position of a business which states the assets liabilities and owners equity at a particular point in time. Current assets are assets that can turn into cash within one year of the balance sheet date. To help you understand the answer to that question imagine a scenario.
What makes a balance sheet different from other financial statements such as an income statement. Pretend that you are going to apply for a loan to put a swimming pool into your backyard. This balance sheet example and explanation will help you understand how the balance sheet works and how to read a balance sheet.
List all current assets. Reporting and transparency requirements by the sec rocks. They are listed in order of relative liquidity in other words how easily they could be converted into cash.
In accounting a balance sheet is a type of financial statement that provides a synopsis of a business entitys financial position at a specific time including a companys economic resources assets economic obligations liabilities and the value of a company after its liabilities are subtracted from its assets owners equity. Balance sheet for apple inc. Also note that in some cases many accounts are mapped to one report line for example ar and ar allowance are both mapped to the accounts receivable balance sheet line.
Aapl view income statements balance sheet cash flow and key financial ratios for apple inc. Point and figure charting. Theres only one reason why i continue to hold the majority of my portfolio in us stocks.