ASC 210: The Basics of the Balance Sheet

ASC 210: The Basics of the Balance Sheet

Did you know that every publicly traded business has to publish a balance sheet? The balance sheet is a document that shows a company’s assets, liabilities, and shareholders’ equity at a specific point in time. It is one of three financial statements that businesses are required to file, and it is important for owners and investors to understand what it is telling them about the business.