What Are Balance Sheet Accounts
In Accounting, b ala nce s heet accou nts are Permanent Accounts i.e., accounts havi ng b ala nces and are not closed like temporary accounts and at t h e end of t h e accounting period, t hese accou nts are transferred to b ala nce s heet o n a specified date of time. Bala nce s heet accou nts include Assets, Liab ilities a nd Owner’s Equity or Equity Account. T hese accou nts are finalized in Post-Closing Trail Balance b efore the start of the new accounting or fiscal year. Bala nce s heet accou nts are also called Real Accounts as Assets and Liab ilities are related with real accou nts. Major Lists / Examples of Bala nce S heet Accou nts are Cas h, Accou nts Receiva ble, I nve ntory, Fur niture & Fixture, Pla nt & Mac hi nery, Accou nts Paya ble, Loa ns, Ow ners' Equity, S hareholder's Equity etc.