Fixed Assets are all around us at the workplace. The company's laptop that you are currently using, the projector in the conference room, and even the coffee machine in the pantry - they are all Fixed Assets!
A Balance Sheet offers a snapshot of your company’s financial position at a moment in time.
The Balance Sheet helps you answer the questions:
- How much does your business own?
- How much does your business owe?
- How much was invested by your own fund, or shareholders funds?
Balance sheet (also known as Statement of Financial Position) is one of the 3 important financial statements. Alongside with Income Statement and Cashflow Statement, it helps to reveal a company's overall financial health.