MBE Standard 5 part 1

MBE Standard 5 part 1

Introduction to the Balance Sheet by learning Assets, Liabilities, and Capital

The Balance Sheet

A balance sheet describes the type and amount of assets, liabilities, and capital in a business on a specific date.

The Balance sheet consists of 3 things:

• Assets include the things the business owns.

• Liabilities are the amounts the business owes.

• Capital is the difference between the amount of assets and the amount of liabilities, this is the value of the business.

Use Google Sheets or Excel to create a Balance Sheet that looks like this one.

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