what is a balance sheet 
the term balance sheet refers to a financial statement that reports a company s assets liabilities and shareholder equity at a specific time balance sheets provide the basis for computing rates of return for investors and evaluating a company s capital structure in short the balance sheet is a financial statement that provides a snapshot of what a company owns and owes as well as the amount invested by shareholders balance sheets can be used with other important financial statements to conduct fundamental analyses or calculate financial ratios 