An accounting balance sheet is an accounting document summarizing:
- what is owned by a company: its assets, consisting of fixed assets (goodwill, machinery, etc.) and current assets (inventories, receivables, etc.)
- what it has as a resource: the liabilities, consisting of fixed liabilities (equity) and current liabilities (liabilities)
The balance sheet is part of the financial statements of an enterprise in the same way as the income statement and the appendices.
The balance sheet is often compared to a photograph of a company's assets at the end of a financial year or at interim dates. It is mainly used by third parties (banks, customers, shareholders, administrations ...) in order to know the value of the company and to ensure its solvency. It is also used to determine taxable profit and can be exploited by executives to conduct internal analyzes.
To ensure the transparency and accuracy of the balance sheets, they must generally be certified by an auditor.
Translation of the word Bilan comptable in English
Our balance sheet revealed a massive deficit.
Our record shows a heavy deficit.
Synonym (s) of the word Bilan comptable
Statement of financial position