A balance sheet, sometimes also referred to as statement of financial position is a review of the financial transactions of any business or corporation of any type. It is a very basic and crucial financial statement, obligatory for any business venture, either private or joint undertaking. It is created and managed usually on a regular monthly basis.
All the financial deals within that period of time are to be recorded in a balance sheet, and at the end of the specified time, the assets, liabilities and ownership equity are listed, such as the end of its financial year. A balance sheet is often expressed as an “overall image of a company’s financial state”.
A typical company balance sheet has three parts: assets, liabilities and ownership equity. The statement starts with a listing of all the primary assets, in order of their estimated value. Then all the liabilities are noted down, and the difference between them is calculated as the net worth or capital of the company. By reading a balance sheet, a company owner can quickly decide any steps needed to expand his or to maintain his businesses.
A balance sheet has a formal pre-defined format and layout. If you want to create a balance sheet for your company accounts, you have to follow the same pattern. For this reason, we have created a professionally designed balance sheet template that you can use to create your own statement. It is designed in Ms. Word, and is entirely customizable. Just download our template from the link below, and you can put in your own amounts in the respected places, and easily manage your accounts.
Here is the preview to this Free Balance Sheet Template,
Here comes another Free Balance Sheet Template, it has very unique colors and layout, i hope it’d also be useful for you.
Here is the preview of this new Balance Sheet Template,