Here we explain in a simple and easy way the Balance Sheet, also known as the Statement of Financial Position, for those who are not accountants (and also for those who are). It is also aimed at accounting students.
The Balance Sheet is mainly composed of 3 parts:
Active
passive
Capital
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In the video we clearly explain what the asset is and what impact it has on the balance sheet or on the statement of financial position.
Likewise, we also explain what the liability is and the role it plays in this basic financial accounting report.
Finally, capital is the third element that makes up the Balance Sheet.
We also explain a case study so that it can be understood clearly, easily and step by step.
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