A balance sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time, showing its assets, liabilities, and equity. It follows the accounting equation: Assets = Liabilities + Shareholders' Equity. Assets are divided into current (liquid) and non-current (long-term), while liabilities are split into current (due within a year) a... https://finxl.in/fbs-mba-in-finance.html