Balance Sheet is the financial statement of a company that includes assets, liabilities, equity capital, total debt, etc. at a point in time. The balance sheet includes assets on one side and liabilities on the other. For the balance sheet to reflect the true picture, both heads (liabilities & assets) should tally (Assets = Liabilities + Equity). Because the balance sheet informs the reader of a company's financial position as of one moment in time, it allows someonelike a creditorto see what a company owns as well as what it owes to other parties as of the date indicated in the heading. This is valuable information to the banker who wants to determine whether or not a company qualifies for additional credit or loans. Others who would be interested in the balance sheet include current investors, potential investors, company management, suppliers, some customers, competitors, government agencies, and labor unions.
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