Balance Sheet

Tom’s IT Pro Business Glossary I
By William Van Winkle February 28, 2011 1:00 PM
8. Balance Sheet

A summary document containing a company's assets, liabilities, and ownership equity.

Significance

A balance sheet is divided into assets on one side and liabilities plus net worth on the other, and the two sides should balance. How IT assets are accounted for on the balance sheet can influence viewers' perceptions of the company's financial condition.

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