Balance sheet explained

What is a balance sheet and how is it useful for businesses? A balance sheet is a form of financial statement and it is one of the most important used for businesses. The balance sheet reports what a business owns and what they owe. It looks at their assets and liabilities, as well as shareholder equity. It's basically used to show the financial status of the business, what asset it has, and whether it obtained them through borrowing or from owner contribution on business income. Magnaltus Instagram: https://www.instagram.com/magnaltus/ #business #businessmanagement #businessstartup