What Goes On A Balance Sheet In Accounting
A Balance Sheet shows financial position of a business at a particular time in a specified date. It is very important financial statement for the Users of Financial Statements because it provides reliable information that is Material to them. A balance sheet consists of Assets , Liabilities and Equity . It Has two Sides. One is Assets Side and other one is Liabilities And Equity Side. Assets are the Useful resources for the business owned by it. Assets are further categorized as Current Assets And Fixed Assets / No n Current Tangible Assets And Intangible Assets . Assets are Listed on Balance Sheet In The Order of Liquidity i.e. the most liquid asset comes first and then next most liquid asset and so on. Cash is the most liquid asset, so it comes first while Goodwill comes last as it has less liquidity as compare to other assets. On Liabilities And Equity Side, firstly, Liabilities are shown then Equity. Liabilities are further listed under Current ...