The Balance Sheet is a financial statement that provides information about a point in time.
The balance sheet is a financial statement that provides a snapshot of a company's assets, liabilities, and equity at a specific point in time. It is sometimes called the "statement of financial position" or "statement of financial condition". The balance sheet presents the company's financial position and gives an overview of the company's assets, liabilities, and equity. This financial statement reflects all the financial transactions of the company that have occurred up to the date the balance sheet is prepared. It also helps to measure the company's liquidity, solvency, and financial health.