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TeachMeFinance.com balance sheet -- Financial statement showing assets on the left side and liabilities on the right. A balance sheet provides an overview of a company's financial position at the given time. another definition... Balance Sheet -- Financial statement listing a company's assets, liabilities, and equity on a specific date. another definition... balance sheet -- a financial statement that contains the types and amounts of assets, liabilities and net worth of a company, institution or individual. Also called a statement of condition. historic definition... Balance sheet -- A statement in tabular form showing assets and liabilities, profit and loss. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.