What is Balance Sheet?
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Answer Posted / s balasubramanian
Balance sheet is a financial statement containing assets
and liabilities of a company as on a particular date say
31st March. The position will differ on 1st April.
The difference between P&L A/c and Balance sheet is
P&L A/c is the working results of income and expenditure
for the one year period i.e., 1st April to 31st March,
whereas balance sheet financial position only on a
particular date.
I welcome questions in finance, accounts, financial
analysis etc., and i will try to answer the questions as
far as possible.
email: sbalu1955@yahoo.co.in
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