A financial statement that summarizes a company’s assets, liabilities and shareholders’ equity at a specific point in time. These three balance sheet segments give investors an idea as to what the company owns and owes, as well as the amount invested by the shareholders.

The balance sheet must follow the following formula:

Assets = Credits + Debts  => Profits + Losses

Assets = Liabilities + Shareholders’ Equity

Example of Assets
Assets is the holdings, possessions, capital, properties and wealth of a corporation.

Anything owned that has exchange value. A valuable or desirable thing to have and work towards owning.

Assets is accounting for all the entries on a balance sheet showing the entire resources of a person or business, tangible and intangible as accounts and notes receivables, cash, inventories, equipment, real estates, good will etc.

 

Good will aspects – may donate to his / her legacies.