Anyone who is new to Financial Accounts or in the business the word “Balance Sheet” is new for him/her. Therefore, here you will get answers to your many questions related to the balance sheet. Similarly, you can download the balance sheet format in excel from here.
What is a balance sheet?
The balance sheet is a statement of the financial position of an individual or organization or company. If you ever want to know the financial status of any company or an organization, you can get it through their balance sheet. Therefore, the balance sheet is treated as the “snapshot of a company’s financial condition”.
A balance sheet contains the financial records of a company like the assets, liabilities, and equity of a company at a specific point in time.
Why the balance sheet is prepared?
The basic intention of making a balance sheet is to know the current financial position of the business. On the other hand, from the legal perspective, the Balance Sheet is prepared and published to adhere to the relevant Companies Act in the said country.
Similarly, if the company is listed in the stock exchange, it must prepare Balance Sheets and related statements to be published annually, half-yearly, or otherwise.
Further, business owners see a balance sheet as an important decision-making tool for its success. Also, over a period of time, a comparison of balance sheets can give a better picture of the financial health of a business.
The balance sheet is important, whenever you want to know, where your business is heading to. Therefore, it tells you what are your Assets like sundry debtors, land and building, cash and bank balances, etc. On the other hand, it shows you the entire liabilities of your business like, Sundry creditors, wages, taxes payable, unearned revenue, etc.
Format of Balance Sheet
You can download the actual balance sheet format for your business from the below link. The excel based balance sheet format lets you enter your details and compare the figures on year to year basis. However, if want to submit it as a statutory report to any agency, then you must prepare it as per prevailing rules of such statutory body or agency.
Download Company Balance Sheet
You can download the balance sheet of a company from a BSE website. However, you can download only of listed companies. For example, you can download the financial statements of the below companies.
- Reliance Industries
- Tata Motors
- Yes Bank
- HDFC Bank
- State bank of India(SBI)
- Tata Consultancy Services(TCS)
Here are the steps to download the Balance sheet.
Time needed: 3 minutes
- Visit at https://www.bseindia.com/
- Click on the search bar under “Get Quote”
- Type the name of the Company to search
- Click on the Company you are looking to download the balance sheet.
- On the next page click on “Annual Reports” From your left-hand menu
- Now click on the PDF icon to download the file for the particular financial year.
Since accounting has a double entry effect i.e one entry goes on the debit side and another on the credit side Hence, the balance sheet should always tally.
The balance sheet is prepared on the basis of the trial balance, which is prepared on the day today’s business transactions.
Debtors are your customers, from whom you have to receive the payments.
You can download the balance sheet of listed companies from BSE.
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