• Summary statement of the firm's financial position at a given point in time.
• A summary of the assets, liabilities and owner equity at a defined moment in time
• A company's financial statement that reports its Assets, Liabilities, and Shareholders' Equity on a given date. Liabilities always equal assets, hence the name balance sheet. It is issued annually and quarterly.
• The balance sheet of the Bank shows assets and liabilities. Assets include cash and equivalents, securities held, and loans. Liabilities include deposits, purchased funds, long-term debt and equity.
• Also called the statement of financial condition, it is a summary of the assets, liabilities, and owners' equity.
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Cash and equivalents
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What to Know Before Declaring Your Financial Independence: Twenty-somethings may not realize it, but every time they enter a new phase of their life as young adults - perhaps starting college, a career or a family - they're also venturing into a new world of money management. Here are ways to be prepared. More...
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