Definition - What does Balance Sheet mean?
A balance sheet is a record of the capital, assets, and liabilities of a business during a given time period.
Insuranceopedia explains Balance Sheet
The balance sheet gets its name from the fact that the record must show a balance between the assets on one corner, and the liabilities and sources of capital on the other. The assets might include cash, future income, and properties. The liabilities might include loans and debts owed to suppliers. And the sources of capital may include money invested by the owners or the shareholders.
The balance sheet is a key piece of information for investors.