Balance Sheet Template

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What Is A Balance Sheet,
And Why Does It Matter?

A balance sheet (or statement of financial position) is a financial report that summarizes an organization’s assets, liabilities, and shareholders’ equity for a particular period of time.

What this means is that the balance sheet provides a picture regarding what the organization owes and owns for a particular time frame.

This is important as the balance sheet report reflects the organization’s status and can give you an indication of its financial stance.