{"id":29956,"date":"2016-03-31T19:33:40","date_gmt":"2016-03-31T19:33:40","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/legal\/practice\/what-is-a-balance-sheet.html"},"modified":"2018-05-08T17:48:04","modified_gmt":"2018-05-08T17:48:04","slug":"what-is-a-balance-sheet","status":"publish","type":"practice","link":"https:\/\/lp.findlaw.com\/legal\/practice\/financing-a-law-firm\/what-is-a-balance-sheet.html","title":{"rendered":"What is a Balance Sheet?"},"content":{"rendered":"
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The balance sheet<\/a> is a statement of an organization's financial condition on a given date. It is a crucial tool for you and others to understand the value of your company and the state of its financial health. You may need it to obtain a business loan, to inform investors how the company is performing, or to provide yourself with a summary of the financial health of your company.<\/p>\r\n

The balance sheet is broken down into three sections<\/a> where the assets equal the liabilities plus the capital.
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