Things on a balance sheet


Definition of balance sheet: A condensed statement that shows the financial position of an entity on a specified date (usually the last day of an accounting period). Among other items of information, a balance sheet states (1) ... compensating balance, offsetting balance - a minimum credit balance that a bank may require a borrower to keep on deposit as a condition for granting a loan; a common requirement for establishing a line of credit at a bank; "the compensating balance increases the effective interest rate to the bank since the net amount loaned is reduced but the ... The sum of all your customer accounts receivable is listed as a current asset on your balance sheet. Your accounting software should automatically keep an accounts receivable ledger account for each customer. The accounts receivable ledger, which can also double as a customer statement, serves as a record of each customer's charges and payments. After 3 hours of anxiety, cursing (under the breath) and a pair of strained eyes, I have finally managed to balance my balance sheet. Background: I am required to do a valuation model for a single business segment based on a fully consolidated model - so I did the usual extraction, reference etc.