The balance sheet depicts a company's financial situation. It reveals the company's assets, liabilities, and owner equity. It includes an organization's financial statements, as well as income and cash flow statements. The main formula is total assets equals liabilities plus shareholder equity. It is necessary to understand assets and liabilities in order to prepare a statement. Current assets and non-current assets are the two types of assets. Cash, along with unrestricted bank accounts and cheques, is the most basic current asset. Cash equivalents are the safest asset that is convertible at any time. Checkout this PPT to learn more about the subject.

S Sai Hrishikesh

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