Balance Sheet
/ˈbæl.əns ˌʃiːt/
Definitions
- (n.) A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time.
The company's balance sheet showed a strong equity position as of the fiscal year-end.
Forms
- balance sheets
Related terms
Commentary
In legal contexts, balance sheets are critical for due diligence, insolvency proceedings, and financial disclosures.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.